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 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 no costs are associated with improvements in technology

Answer 1

The statement is false since technological improvements can lead to certain jobs becoming obsolete. While productivity-enhancing technological improvements can have widespread benefits, they may also result in job displacement and inequality, as some workers may lose their jobs or find their skills obsolete due to such advancements.