Impact of AI on Labor Demand

Impact of AI on Labor Demand

Assessment

Interactive Video

Business, Social Studies, Other

9th - 12th Grade

Hard

Created by

Patricia Brown

FREE Resource

The video tutorial by Jeff covers the labor market, focusing on labor demand. It explains the inverse relationship between wages and labor demand, and how shifts in the labor demand curve occur. The concept of derived demand is introduced, highlighting that labor demand is driven by the demand for goods and services. Various factors influencing labor demand, such as changes in product prices, productivity, and employment subsidies, are discussed. The impact of AI and robotics on labor demand is explored, considering both potential reductions and increases in labor demand. The video concludes by examining whether AI acts as a substitute or complement to labor.

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10 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to labor demand when wages decrease, assuming other factors remain constant?

Labor demand becomes unpredictable

Labor demand remains unchanged

Labor demand contracts

Labor demand expands

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the relationship between labor demand and the market wage rate?

Complex relationship

No relationship

Inverse relationship

Direct relationship

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the term used to describe the demand for labor based on the demand for goods and services?

Direct demand

Inelastic demand

Elastic demand

Derived demand

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which factor is NOT mentioned as influencing shifts in labor demand?

Change in product demand

Change in government policies

Change in worker productivity

Change in capital costs

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What happens to labor demand when the price of the product being produced increases?

Labor demand decreases

Labor demand becomes volatile

Labor demand increases

Labor demand remains constant

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

How might AI and robotics affect labor demand in the construction industry?

Increase demand for manual labor

Decrease demand for labor due to automation

Increase demand for unskilled labor

Have no impact on labor demand

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Which of the following is a substitute for labor mentioned in the video?

Energy

Capital

Natural resources

Human resources

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