Question

15. Which of the following events could decrease the demand for labor?

Select one:

a. a. An increase in the number of migrant workers

b. a. An increase in the marginal productivity of workers

31. Which of the following is not an example of capital used in production?

Select one:

a. a. an accountant’s education

b. a. a landscaper’s time

c. a. a manufacturer’s factory

d. a. a teacher’s chalkboard

c. a. A decrease in the supply of labor

d. a. A decrease in demand for the final product produced by labor

Answer 1

Answer-1. Correct option is 'd'

A decrease in demand for the final product produced by labor could decrease the demand for labor. A decrease in demand for the final product produced by labor, as a result decrease in demand for labor to produce that good.

Answer-2. Correct option is 'a'

An accountant’s education is not an example of capital used in production. The third factor of production is capital. Think of capital as the machinery, tools and buildings humans use to produce goods and services. Some common example of capital are hammer, computers.