You overhear a classmate making the claim that productivity-enhancing technological improvements will immediately benefit everyone in the economy. This statement is _____.(1 point)

Question

Responses

true since no costs are associated with improvements in technology
true since no costs are associated with improvements in technology

false since technological improvements do not affect standards of living
false since technological improvements do not affect standards of living

false since technological improvements can lead to certain jobs becoming obsolete
false since technological improvements can lead to certain jobs becoming obsolete

true since human capital will be improved as well

Answer 1

The correct response is:

false since technological improvements can lead to certain jobs becoming obsolete.

While productivity-enhancing technological improvements can benefit the economy as a whole, they do not immediately benefit everyone, as they can disrupt labor markets and lead to job displacement in certain sectors.