According to the Author, the Development of Complex Algorithms That

question 97

Multiple Choice

According to the author, the development of complex algorithms that perform "brain work" in the future is most likely to:

• A) shorten the overall workweek.
• B) reduce overall employment.
• C) make the distribution of income more equal.
• D) make the distribution of income less equal.

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Definitions:

Marginal Product

The additional output produced by using one more unit of a production input, holding all other inputs constant.

Employment

The condition of having a paid job or occupation, involving a contract between an employer and an employee that provides compensation for work performed.

Marginal Product

The additional output that is produced by adding one more unit of a variable resource, such as labor or capital, to the production process.

Average Product

The output produced per unit of a factor of production, calculated by dividing total product by the quantity of the input.