The Invention of New Technology That Can Double the Amount

question 286

Multiple Choice

The invention of new technology that can double the amount of gold extracted from raw ore will lead to a

• A)higher world price of gold, since mining companies must pay for the new machinery.
• B)lower world price of gold, since any amount of gold output is now cheaper to produce.
• C)higher world price of gold, because miners' wages must double as their productivity doubles.
• D)lower world price of gold, but only if new mining companies are not allowed to enter the industry.

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Definitions:

Social Structure Complexity

A term referring to the multifaceted layering and differentiation within societies, including variations in social roles, hierarchy, and institutions.

Cultural Accumulation

The process by which a culture gathers and collects knowledge, skills, customs, beliefs, and artifacts over time.

Technology Level

The overall measure of scientific and technological advancement in a society, including the availability and use of technical knowledge and tools.

Social Structures

are the complex networks of relationships, hierarchies, and institutions that shape societies and organize individual interactions.