Which of the Following Is Not True About Technological Progress

question 30

Multiple Choice

Which of the following is not true about technological progress?

• A) Cause a decrease in unemployment in the medium run.
• B) Lead to the disappearance of old goods.
• C) Cause a decrease in unemployment in the short run.
• D) Allow for the production of a larger quantity of goods using the same number of workers.
• E) Lead to the production of new goods.

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Definitions:

Average Tax Rate

The average tax rate is the percentage of total income that an individual or corporation pays in taxes, calculated by dividing total tax paid by total income.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, reflecting the rate applied to each additional dollar of income.

Social Security Tax

A payroll tax collected to fund the Social Security program, which provides benefits to retirees, disabled individuals, and survivors.

Taxable Income

The portion of income subject to tax by the government after all deductions and exemptions.