Multiple Choice QuestionAdding other resources, inventing new machinery, and improving the quality of the labor force are all methods of Blank______.Multiple choice question.stabilizing productivity over the long runstabilizing productivity over the short runchanging productivity over the short runchanging productivity over the long run
Question
Multiple Choice QuestionAdding other resources, inventing new machinery, and improving the quality of the labor force are all methods of Blank______.Multiple choice question.stabilizing productivity over the long runstabilizing productivity over the short runchanging productivity over the short runchanging productivity over the long run
Solution
The correct answer is "changing productivity over the long run".
Here's why:
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Adding other resources: This can lead to an increase in productivity over the long run as more resources can lead to more output. However, this is not a short-term change as resources take time to acquire and implement.
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Inventing new machinery: This can also lead to an increase in productivity over the long run. New machinery can make processes more efficient and increase output. However, inventing and implementing new machinery takes time, so this is not a short-term change.
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Improving the quality of the labor force: This can be done through training and education. A more skilled labor force can increase productivity. However, improving the quality of the labor force is a long-term process as training and education take time.
Therefore, all these methods are ways of changing productivity over the long run, not stabilizing or changing it over the short run.
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