Question : 21) If an industry introduces a labor-saving technology in production, : 1377469

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