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 human capital will be improved as well
true since human capital will be improved as well

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
false since technological improvements can lead to certain jobs becoming obsolete

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

Answer 1

The correct response is:

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

While productivity-enhancing technologies can lead to overall economic growth, they may also displace workers and create inequality in the short term, leading to some individuals and sectors not benefiting immediately or at all.