The Argument That Technological Change Creates Jobs Assumes That

question 84

Multiple Choice

The argument that technological change creates jobs assumes that:

• A)The factor substitution effect outweighs the factor output effect.
• B)The factor output effect outweighs the factor substitution effect.
• C)The real wage rate increases faster than the nominal wage rate.
• D)The level of human capitol in the economy is increasing.

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Definitions:

Design For Remanufacturing

The process of designing products so that they can be easily disassembled and reassembled or refurbished for future use.

Manufacturer

An entity engaged in the business of producing goods for sale, typically on a large scale, involving machinery and labor.

Tragedy Of The Commons

A situation in which individual users, acting independently according to their own self-interest, deplete or spoil shared resources, leading to long-term depletion or damage for all users.

Public Asset

Resources or properties owned by the government or a public entity, meant to provide benefits or services to the community.