Bundle: Exploring Macroeconomics, Loose-leaf Version, 7th + LMS Integrated MindTap Economics, 1 term (6 months) Printed Access Card
7th Edition
ISBN: 9781305784802
Author: Robert L. Sexton
Publisher: Cengage Learning
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Question
Chapter 10, Problem 10P
To determine
To explain:
The reason for belief that technological advances unavoidably displace the workers is false.
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Chapter 10 Solutions
Bundle: Exploring Macroeconomics, Loose-leaf Version, 7th + LMS Integrated MindTap Economics, 1 term (6 months) Printed Access Card
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Similar questions
- Why don’t wages measure the full return to labor? Why is human capital the most important factor of production in a modern economy?arrow_forwardDefine the term labor productivity?arrow_forwardWhat determines how productive workers are? How do gains in labor productivity lead to gains in GDP per capita?arrow_forward
- According to an article by the Wall Street Journal, the U.S. is at risk of running out of occupational therapists, railroad engineers, mathematicians, machinists and other workers. As a result, In the next 10 to 15 years, we expect U.S. employers to demand more labour than will be available, which will, in turn, constrain overall economic growth. On the top of that, U.S. president Donald J. Trump has put executive orders to ban nationals of selected countries from entering the U.S. Meanwhile, the top economic analysts and leaders believe that the country is going to strengthen and tighten its immigration polices to a much greater extent in the coming days. a) Referring to the above extract, briefly state in a line what do you think will happen to the U.S. labour market. b) With the help of appropriate diagrams, graphically show and briefly comment on what will happen to the U.S. real wage rate, labour hours and real GDP, due to the changes in the U.S. labour market that you stated in…arrow_forwardwhat will be the effect of employable workers migrate from the low paying countries to high paying countriesarrow_forwardIf birth rates go up, what happens to the size of the labor force in the future?arrow_forward
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