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Sublight2097 Sublight2097
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8 years ago
The substitution of machines for labor
A) does not reduce employment opportunities because labor is required to produce the machines.
B) is not likely to reduce employment opportunities because as many or more workers will usually be demanded to produce, service, and operate the machines.
C) will proceed more rapidly in a society the more rapidly the cost of hiring workers rises.
D) will reduce employment opportunities if increased competition associated with the introduction of machinery lowers product prices.
Textbook 
The Economic Way of Thinking

The Economic Way of Thinking


Edition: 13th
Authors:
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SydnieSydnie
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8 years ago
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Sublight2097 Author
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#2
8 years ago
My mind was going in all different directions trying to figure this one out. Thanks so much.
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