Macroeconomics
Macroeconomics
13th Edition
ISBN: 9780134735696
Author: PARKIN, Michael
Publisher: Pearson,
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Chapter 29, Problem 10APA
To determine

Illustrate graphically the effect of the new technology on the labor market.

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% Robots on the farm Commercial farms of the future may be staffed by robots that will identify, spray, and pick individual pieces of produce from plants, even when their targets are grapes, peppers, and apples that are as green as the leaves that surround them. Robots could also offer a timely supply of labor in many places, where there simply aren't enough itinerant workers available at the right times in the harvesting cycle. Source: ABC News, April 17, 2011 How will the use of robots change the value of marginal product of farm workers? Robots will the value of marginal product of fruit pickers. A. decrease OB. increase O c. have no effect on O D. decrease to zero OE. sometimes increase and sometimes decrease 6 COM & 7 8 C 9 # 0 Next mpts tact Us | =S
Draw a graph representing a business cycle and mark the points or areas of potential GDP, full employment, natural unemployment, and cyclical unemployment.
D A bank branch experiences a 75% increase in output when increasing the number of loan officers from 1 to 2. To maximize profits, how should the bank change its employment of loan officers? Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a b C Question 27 d Employ 2 loan officers. Employ 1 loan officer. Employ 1 loan officer in the short run and 2 loan officers in the long run. There isn't enough information to answer this question.
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