An Advance in Technology Commonly Refers to the Ability to Produce

question 48

Multiple Choice

An advance in technology commonly refers to the ability to produce

• A)the same output with a smaller quantity of resources.
• B)less output with a fixed quantity of resources.
• C)more output with a greater quantity of resources.
• D)less output with a greater quantity of resources.

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Definitions:

National Debt

The total amount of money that a country's government has borrowed, usually as a result of spending more than it receives in income.

Trillion

A numerical value representing a thousand billion, or 1,000,000,000,000, commonly used in discussing government budgets, economic indicators, and astronomical distances.

Public Debt

The amount of federal securities outstanding, which represents what the federal government owes (the accumulation of federal deficits minus surpluses over the last two centuries).

GDP

Gross Domestic Product, which is the total monetary or market value of all the finished goods and services produced within a country's borders in a specific time period.