An Increase in the Productivity of Labor Over Time Will

question 160

Multiple Choice

An increase in the productivity of labor over time will

• A) decrease the value of time.
• B) increase the value of time.
• C) decrease the demand for labor-saving devices.
• D) decrease the demand for consumer goods and services.

---

Definitions:

International Finance

A branch of financial economics that deals with understanding and managing financial interactions between countries, including foreign exchange management and international investing.

Current Account

This part of a country's balance of payments summarizes the trade balance, net income from abroad, and net current transfers.

Capital Account

A component of a country's balance of payments that records all transactions involving the purchase or sale of assets.

Canadian Dollar

The official currency of Canada, often represented by the symbols CAD or $.