Holding Other Factors Constant, Technological Progress ________ the Real Wage

question 42

Multiple Choice

Holding other factors constant, technological progress ________ the real wage and ________ employment.

• A)increases; increases
• B)increases; decreases
• C)increases; does not change
• D)decreases; increases

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Definitions:

Shrinkwrap Contracts

Agreements whose terms are only revealed after opening the packaging of a product, often enforceable once the package is opened.

Duress

A condition where a person performs an act as a result of violence, threat, or other pressure against them, raising questions about the voluntariness of the act.

Voidable

Capable of being made void; not utterly null, but annullable, and hence that may be either voided or confirmed. See also void.

Capacity To Contract

The legal ability of a party to enter into a contract, typically requiring that the person is of legal age and sound mind.