Technological Advances Shift the Demand for Labor

question 69

Multiple Choice

Technological advances shift the demand for labor

• A)to the left.
• B)to the right.
• C)to the left if technology is a complement of labor,but to the right if it is a substitute.
• D)to the right if technology is a complement of labor,but to the left if it is a substitute.

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Definitions:

Variance

The average of the squared differences from the Mean, measuring the spread between numbers in a data set.

Point Estimate

A single value or statistic that serves as the best guess or most probable value of an unknown population parameter.

Population Parameter

A numerical value that summarizes a characteristic of an entire population.

Random Sampling

A method in statistical analysis where individuals or items are selected from a larger population entirely by chance, ensuring that every member has an equal opportunity of being chosen.