Suppose a huge scientific breakthrough doubles the output that an additional houra huge scientific breakthrough doubles the output that an additional hour of U.S. labor can produceof U.S. labor can produce. As a result, there is ______ in the U.S. production function. A. an upward shiftan upward shift B. no shiftno shift C. a downward shifta downward shift There is ______ in the U.S. demand for labor and ______ in the U.S. supply of labor. A. a decreasea decrease; a decreasea decrease B. an increasean increase; a decreasea decrease C. no changeno change; an increasean increase D. an increasean increase; no changeno change
Suppose a huge scientific breakthrough doubles the output that an additional houra huge scientific breakthrough doubles the output that an additional hour of U.S. labor can produceof U.S. labor can produce. As a result, there is ______ in the U.S. production function. A. an upward shiftan upward shift B. no shiftno shift C. a downward shifta downward shift There is ______ in the U.S. demand for labor and ______ in the U.S. supply of labor. A. a decreasea decrease; a decreasea decrease B. an increasean increase; a decreasea decrease C. no changeno change; an increasean increase D. an increasean increase; no changeno change
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Suppose
a huge scientific breakthrough doubles the output that an additional houra huge scientific breakthrough doubles the output that an additional hour
of U.S. labor can produceof U.S. labor can produce.
As a result, there is ______ in the U.S. production function.
an upward shiftan upward shift
no shiftno shift
a downward shifta downward shift
There is ______ in the U.S. demand for labor and ______ in the U.S. supply of labor.
a decreasea decrease;
a decreasea decreasean increasean increase;
a decreasea decreaseno changeno change;
an increasean increasean increasean increase;
no changeno changeExpert Solution
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