With the Presence of Technological Progress, for This Economy, We

question 37

Multiple Choice

With the presence of technological progress, for this economy, we know that the level of output per worker will:

• A) increase over time.
• B) increase or decrease, depending on the rate of saving.
• C) decrease as a result of decreasing returns to scale.
• D) increase or decrease, depending on the rate of depreciation.
• E) remain constant.

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Definitions:

Output

The amount of goods or services produced by a business, industry, or economy.

Price

The financial sum expected, necessary, or handed over in exchange for something.

Peak Efficiency

The highest level of operational productivity or effectiveness where resources are utilized in the most optimal way.

Preferential Tax Breaks

These are specific tax provisions that benefit certain activities, industries, or groups, reducing their tax burden compared to others.