A Technological Advancement Allows for

question 46

Multiple Choice

A technological advancement allows for

• A) a reduction in structural unemployment.
• B) a greater multiplier effect.
• C) a lesser multiplier effect.
• D) production of a greater quantity of output using a greater quantity of inputs.
• E) production of a greater quantity of output using the same or fewer inputs.

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Definitions:

Coal Deposits

Natural accumulations of coal, which is a combustible black or brownish-black sedimentary rock used primarily for electricity generation and steel production.

Political Economy

An interdisciplinary branch that studies the relationships between individuals, governments, and public policy, focusing on the economic implications of political actions.

Adam Smith

A Scottish economist, philosopher, and author known for his theories on free market economics presented in his book "The Wealth of Nations."

Invisible Hand

A metaphor introduced by economist Adam Smith to describe the self-regulating behavior of the marketplace, where individuals acting in their own self-interest inadvertently benefit society at large.