Which of the Following Does Luddite Reasoning Get Correct

question 14

Multiple Choice

Which of the following does Luddite reasoning get correct?

• A) Historically, the demand for labor has actually increased as technology has advanced.
• B) Labor is necessary for building and maintaining machines, and so increased demand for machines increases the demand for labor.
• C) New technology tends to raise total output, leading to an increase in the demand for labor.
• D) New technology frequently causes some specialized labor skills to become obsolete.

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Definitions:

Closed-End Credit Agreement

A loan agreement where the borrower receives the entire loan amount upfront and agrees to repay it, along with any interest and fees, over a specific period.

FCCPA

Fair Credit Collection Practices Act, U.S. federal law designed to protect consumers from abusive, deceptive, and unfair debt collection practices.

Consumer Credit Transaction

A transaction between a seller/creditor and a consumer where credit is offered or extended to the consumer for the purchase of goods, services, property, or money.

FCC's Open Internet Rules

Regulations designed by the Federal Communications Commission to ensure net neutrality, prohibiting internet service providers from discriminating against or charging differently for different content.