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

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

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

Answer 1

The correct response is:

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

While technological improvements can enhance overall productivity and potentially benefit many individuals in the economy, they can also result in job displacement for certain sectors or roles, leading to negative effects for those who lose their jobs.