The Case of ATMs and Bank Tellers Illustrates That

question 117

Multiple Choice

The case of ATMs and bank tellers illustrates that

• A)capital is primarily a substitute for labor.
• B)capital is, overall, a complement for labor, not a substitute.
• C)capital and labor are almost always used in fixed proportions.
• D)technological innovation is generally detrimental to employment.

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Definitions:

Personal Income

The total earnings of an individual from all sources before taxes, including wages, dividends, interest, and rents.

Federal Government

the national government of a federal state, which shares power with regional or state governments under a system of federalism.

Individual Income

The total amount of money earned by a person from all sources before taxes.

Tax Competition

It refers to the phenomenon where countries or jurisdictions compete against each other to attract business through lower tax rates or more favorable tax regimes.