Although Improved Technology Can Either Increase or Decrease the Demand

question 52

True/False

Although improved technology can either increase or decrease the demand for a factor of production, the usual effect of technological progress is to reduce demand for labor, holding everything else constant.True

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Definitions:

Wind

The movement of air from areas of high pressure to areas of low pressure, resulting in weather patterns and climatic changes on Earth.

Sand Deposition

The process by which sand is laid down or deposited by wind, water, or ice, often forming beaches, dunes, and other geological structures.

Turbidity Currents

Underwater density flows of sediment-laden water moving downslope, often triggered by earthquakes.

Deep Ocean

The part of the ocean extending beyond the continental shelf, characterized by great depths, low temperatures, high pressures, and complete darkness.