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Question
You overhear a classmate making the claim that productivity-enhancing technological improvements will immediately benefit everyone in the economy. This statement is _____.(1 point)
Responses
true since human capital will be improved as well
true since human capital will be improved as well
false since technological improvements do not affect standards of living
false since technological improvements do not affect standards of living
true since no costs are associated with improvements in technology
true since no costs are associated with improvements in technology
false since technological improvements can lead to certain jobs becoming obsolete
1 answer
The correct response is:
false since technological improvements can lead to certain jobs becoming obsolete.
This statement is accurate because while technological advancements can enhance productivity and overall economic growth, they can also result in job displacement for some workers, meaning that not everyone benefits immediately or equally from such improvements.
