How Will an Increase in Labor Productivity Affect Equilibrium in the Labor

question 88

Multiple Choice

How will an increase in labor productivity affect equilibrium in the labor market?

• A)The supply of labor will increase and the equilibrium wage and quantity of labor will increase.
• B)The demand for jobs will increase and the equilibrium wage and quantity of labor will increase.
• C)The demand for labor will increase and the equilibrium wage and quantity of labor will increase.
• D)The demand for labor will decrease because fewer workers will be needed to produce the same output. The equilibrium wage and quantity of labor will decrease.

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Definitions:

Cultural Sensitivity

The awareness, understanding, and respect for other cultures, and the ability to behave appropriately when interacting with people from those cultures.

Benzodiazepines

A class of psychoactive drugs used to treat conditions such as anxiety, insomnia, and seizures by enhancing the effect of the neurotransmitter GABA in the brain.

Anxiety Disorders

A group of mental health disorders characterized by significant feelings of anxiety and fear, affecting the individual's ability to function daily.

Xanax

A prescription medication used for the treatment of anxiety and panic disorders, classified as a benzodiazepine.