Technological Optimists Argue That Technological Advances Have

question 61

Multiple Choice

Technological optimists argue that technological advances have:

• A) Led to the increase in human population, but whether we can continue is of great concern
• B) Proved Marx wrong in his predictions of famine and disaster
• C) Proved Malthus wrong in his predictions of famine and disaster
• D) Been developed because there are more people, supporting the view that more people are the "ultimate resource."
• E) Been a neutral factor in the issue of population growth

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Definitions:

Sticky Prices

Refers to the resistance of prices to change, despite shifts in the broader economy or a product's supply and demand.

Price Level

An index or average that reflects the overall price of goods and services in an economy at a given time, often used to measure inflation or deflation.

Long-Run Aggregate Supply

The Long-Run Aggregate Supply represents the total production of goods and services in an economy at full employment, unaffected by short-term fluctuations.

Recessionary Gap

Occurs when the actual output of an economy is less than the potential output, indicating underutilized resources.