21) If an industry introduces a labor-saving technology in production, the demand curve for labor in that industry is likely to:
A) shift inward.
B) shift outward.
C) become vertical.
D) become horizontal.
22) Ceteris paribus, which of the following is likely to happen if an industry introduces labor-saving technology in production?
A) There will be a decrease in both the wage rate and the employment levels in the industry.
B) There will be a rise in both the wage rate and the employment levels in the industry.
C) There will be a rise in the wage rate and a decrease in the employment levels in the industry.
D) There will be a decrease in the wage rate and a rise in the employment levels in the industry.
23) Ceteris paribus, if an industry introduces a labor-complementary technology in production, the demand curve for labor in that industry is likely to:
A) shift inward.
B) shift outward.
C) become vertical.
D) become horizontal.
24) Ceteris paribus, which of the following is likely to happen if an industry introduces a labor-complementary technology in production?
A) There will be a rise in both the wage rate and the employment levels in the industry.
B) There will be a fall in both the wage rate and the employment levels in the industry.
C) There will be a fall in the wage rate and a rise in the employment levels in the industry.
D) There will be a rise in the wage rate and a fall in the employment levels in the industry.
25) Which of the following is likely to cause a decrease in both the wage rate and the level of employment in an industry?
A) An outward shift in the supply curve of labor, without any change in the demand curve of labor
B) An inward shift in the supply curve of labor, without any change in the demand curve of labor
C) An outward shift in the demand curve of labor, without any change in the supply curve of labor
D) An inward shift in the demand curve of labor, without any change in the supply curve of labor
26) Which of the following is likely to cause an increase in both the wage rate and the level of employment in an industry?
A) An inward shift in the supply curve of labor, without any change in the demand curve of labor
B) An inward shift in the demand curve of labor, without any change in the supply curve of labor
C) An outward shift in the supply curve of labor, without any change in the demand curve of labor
D) An outward shift in the demand curve of labor, without any change in the supply curve of labor
27) Ceteris paribus, which of the following is likely to increase both the wage rate and the number of workers hired in a rice farm?
A) An increase in the price of rice
B) A decrease in the price of rice
C) A decrease in the population in the area where the farm is located
D) An increase in the population in the area where the farm is located
28) Ceteris paribus, which of the following is likely to increase both the wage rate and the the number of workers hired in a steel producing factory?
A) An increase in the opportunity cost of leisure
B) A decrease in the opportunity cost of leisure
C) Introduction of labor-saving technology in the factory
D) Introduction of labor-complementary technology in the factory
29) Ceteris paribus, which of the following is likely to decrease both the wage rate and the number of workers hired in a tea estate?
A) An increase in the price of tea
B) A decrease in the price of tea
C) A decrease in the opportunity cost of leisure
D) An increase in the opportunity cost of leisure
30) Everything else remaining unchanged, which of the following is likely to cause a decrease in both the wage rate and the number of workers hired in a glass factory?
A) Introduction of labor-saving technology in the factory
B) Introduction of labor-complementary technology in the factory
C) A decrease in the population in the region where the factory is located
D) An increase in the population in the region where the factory is located
Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.
You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.
Read moreEach paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.
Read moreThanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.
Read moreYour email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.
Read moreBy sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.
Read more