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.

Identify the relationship between diminishing marginal utility and total utility.

Understand the impact of complementary and substitute goods on consumer choice and marginal rate of substitution.

Grasp the significance of the substitution and income effects in response to changes in the price of goods.

Understand indifference curve maps and their role in illustrating levels of utility and preferences.