If Input Prices Rose and Production Technology Improved at the Same

question 197

Multiple Choice

If input prices rose and production technology improved at the same time,as a result:

• A) prices would rise.
• B) prices would fall.
• C) larger quantities to be exchanged.
• D) we would not know which direction either prices or quantities exchanged would be altered without more information.

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Definitions:

Job Analysis

The systematic study of a job to determine what activities and responsibilities it includes, its relative importance to other jobs, the qualifications necessary for performance, and the conditions under which it is performed.

Potential New Jobs

Employment opportunities that could be created in the future based on technological advancements, economic changes, or evolving consumer demands.

Selection Device

Tools or processes used to assess and choose candidates during employment or admission.

Application Form

A document used by employers that candidates must fill out as part of the hiring process, often requesting personal, educational, and professional information.