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

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

Answer 1

The correct response would be:

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

While productivity-enhancing technological improvements can lead to overall economic growth and efficiency, they can also result in job displacement for certain sectors or positions, meaning not everyone may benefit immediately or equally.