Author Question: An increase in physical capital or a technological advance A) raises the real wage rate. B) ... (Read 61 times)

CQXA · **on:** Jun 29, 2018

An increase in physical capital or a technological advance

A) raises the real wage rate.
B) decreases the quantity of labor employed.
C) shifts the production function downward.
D) decreases demand for labor.

Question 2

Mike has just been laid off from his construction job because consumers are not purchasing new homes because of the recession. Mike would be considered to be part of

A) structural unemployment.
B) cyclical unemployment.
C) seasonal unemployment.
D) frictional unemployment.