Multiple Choice
In 1971, a bank worker could process 265 checks in 1 hour.Currently, computers with built-in reader-sorter processing capacity have pushed that number above 100,000 checks per hour.Economists describe this type of activity as
A) the exploitation of labor.
B) an increase in labor productivity.
C) the displacement of labor.
D) the effects of comparative advantage.
E) the mutual gains received through voluntary trade.
Correct Answer:

Verified
Correct Answer:
Verified
Q34: In the twentieth century, Russian peasants noticed
Q35: If Japan is twice as good at
Q36: "Assume that all individuals have perfect information
Q37: There is an inverse relationship between inflation
Q38: If Taiwanese workers can produce all goods
Q40: Economists probably agree more often than they
Q41: A diagram is a good example of
Q42: Why do economists tend to create models
Q43: Opportunity cost is the value of the
Q44: A graph with a positive slope indicates