Increases in Labor Productivity from Improved Technology

question 22

Multiple Choice

Increases in labor productivity from improved technology

• A) increase the long run supply of labor
• B) reduce the demand for labor
• C) reduce real wages
• D) induce firms to substitute capital for labor
• E) have no long run effect on total hours worked

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Definitions:

Polar (Hydrophilic) Region

A part of a molecule that has a tendency to interact with water through hydrogen bonding or electrostatic interaction, making it soluble in water.

Plasma Membrane

The lipid bilayer that surrounds a cell, providing a barrier and regulating the movement of substances in and out of the cell.

Phospholipids

A class of lipids that are a major component of all cell membranes, forming bilayers that act as a barrier in cells.

Phosphorus

A chemical element with symbol P and atomic number 15, essential for life, involved in the formation of DNA and RNA, and a key component of ATP, the energy currency of cells.