I am having a problem with these four problemswebdav/pid-1221589-dt-content-rid-8618514_1/courses/1678.201780/Assign2.pdf+ Automatic Zoom :19. Technological progress helps increase the productivity of labor, defined as the numberof units of output produced per hour of labor. A rise in the productivity of labor in theproduction process, ceteris paribus, will causeA) the demand for the output to increase.B) the demand for the output to decrease.C) the supply of the output to increase.D) the supply of the output to decrease.E) None of the above is correct.Q Search20. An economic recession with a decline in household incomes will negatively impact allretail businesses.A) TrueB) False21. If we assume that the current equilibrium wage for low-skilled labor is $8 per hour andthe minimum wage is increased from $5.75 to $7.25 per hour, thenA) unemployment among low-skilled workers will increase.B) unemployment among low-skilled workers will remain unaffected.C) unemployment among low-skilled workers will decrease.22. eBay shoppers are frequently asked by eBay sellers to pay the cost of shipping thepurchased item. Who really pays the shipping cost in eBay transactions?A) The buyerB) The sellerC) Both parties are likely to share the cost.D) eBay corporation

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19. Technological progress helps increase the productivity of labor, defined as the number of units of output produced per hour of labor. A rise in the productivity of labor in the production process, ceteris paribus, will cause A) the demand for the output to increase. B) the demand for the output to decrease. C) the supply of the output to increase. D) the supply of the output to decrease. E) None of the above is correct.

19. Technological progress helps increase the productivity of labor, defined as the number of units of output produced per hour of labor. A rise in the productivity of labor in the production process, ceteris paribus, will cause A) the demand for the output to increase. B) the demand for the output to decrease. C) the supply of the output to increase. D) the supply of the output to decrease. E) None of the above is correct.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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