The Main Problem in Determining the Effects of New Technology

question 10

Multiple Choice

The main problem in determining the effects of new technology on job creation and job displacement is

• A)calculating the indirect and long-term effects.
• B)projecting the growth rates of new occupational specialties.
• C)that workers frequently move from region to region as jobs decline and grow.
• D)that the Census Bureau regularly changes job classifications and occupational titles.
• E)that managers view such information as a trade secret.

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Definitions:

Automatic Stabilizer

Economic policies and programs, such as unemployment insurance and taxation, that automatically adjust to counteract economic fluctuations without the need for government intervention.

Money Market

A section of the financial market where short-term financial assets with high liquidity are traded.

Interest Rate

The amount charged by lenders as a percentage of the principal, or the amount earned on deposits over a specified period.

Equilibrium Value

The point at which the quantity of a good or service demanded equals the quantity supplied, resulting in market stability.