An Improvement in Technology That Allows Workers to Process Twice

question 36

Multiple Choice

An improvement in technology that allows workers to process twice as many insurance forms in an hour than before will result in ____

• A)an increase in the employment of labor because the marginal product of labor has decreased.
• B)an increase in insurance premiums.
• C)a decrease in the employment of labor because the marginal product of labor has decreased.
• D)an increase in the employment of labor because the marginal revenue product of labor has increased.
• E)a decrease in the employment of labor because its marginal revenue product has increased.

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Definitions:

Reduced Range

A limitation or decrease in the extent or scope of something, often regarding movements or options.

Contented

A state of satisfaction and happiness, often resulting from fulfilling one's needs or achieving desired outcomes.

Emotional Reaction

An individual's immediate affective response to a stimulus, which can influence behavior and decision-making.

Future Possible Activities

Activities or tasks that individuals or groups might undertake in the future, which are currently considered as options or plans.