Which of the below actions is likely to LOWER labor productivity and lower the economy's GDP (the gross domestic product and the size of the economy)? A) Hiring lots of workers with lower skills and using less machinery, computerization, tools, and equipment. B) Shifting from labor-intensive technology to more advanced technology that uses less worker-time to produce a set quantity of output. C) Greater investment in physical capital such as better and more
Which of the below actions is likely to LOWER labor productivity and lower the economy's GDP (the gross domestic product and the size of the economy)? A) Hiring lots of workers with lower skills and using less machinery, computerization, tools, and equipment. B) Shifting from labor-intensive technology to more advanced technology that uses less worker-time to produce a set quantity of output. C) Greater investment in physical capital such as better and more
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Which of the below actions is likely to LOWER labor productivity and lower the economy's GDP (the
A) Hiring lots of workers with lower skills and using less machinery, computerization, tools, and equipment.
B) Shifting from labor-intensive technology to more advanced technology that uses less worker-time to produce a set quantity of output.
C) Greater investment in physical capital such as better and more advanced machinery and tools (physical capital).
D) Better and higher education and training for workers.
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