An Increase in Total Factor Productivity Causes

question 3

Multiple Choice

An increase in total factor productivity causes

• A) real wages to rise.
• B) labour supply to fall.
• C) the output supply curve to shift left.
• D) real interest rates to rise.
• E) the production function to shift up.

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Definitions:

Literacy Skills

The abilities related to reading and writing, enabling a person to comprehend, decode, and communicate through written language.

Religious Orders

Communities bound by vows, especially within the Christian tradition, with a commitment to live a life of prayer, obedience, and service.

Manifest Function

The recognized and intended consequences of any social pattern, process, or action.

Latent Function

A secondary or hidden effect of social structures, not explicitly stated or intended.