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Author Question: Gross domestic product (GDP) will increase if illegal drugs are made legal. a. True b. False ... (Read 83 times)

londonang

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on: Jun 30, 2018
Gross domestic product (GDP) will increase if illegal drugs are made legal.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Explain why wage rates might rise at Joe's Quik-Print Shop if Joe replaces his aging copy machines with state-of-the-art copy machines.


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nhea

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Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

The improvement in technology will boost the productivity of Joe's employees. Their MRP will rise, and since Joe's labor demand curve is the MRP curve, he will be willing and able to hire more workers and pay higher wage rates.


londonang

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

ultraflyy23

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Reply 3 on: Yesterday
Excellent

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