Which of the Following Most Accurately States the Importance of Technology

question 103

Multiple Choice

Which of the following most accurately states the importance of technology as a source of economic growth for less-developed countries?

• A) Restraints imposed by the slow advancements in modern technology have severely constrained the growth of less-developed countries.
• B) If modern technology was the only requirement for economic growth, less-developed countries would be growing rapidly.
• C) Most less-developed nations have the necessary complementary factors of production to make good use of modern technology if they could just afford the complex machines.
• D) While modern technology has increased the income levels in less developed countries, it has been unable to improve living standards.

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Definitions:

Ending Inventory

Ending inventory is the value of goods available for sale at the end of an accounting period.

Inventory Total

The aggregate value of a company's raw materials, work in process inventory, and finished goods.

Weighted Average

A calculation method that assigns varying weights to different items or events, used to compute an average that reflects the importance or frequency of those items or events.

Perpetual Inventory System

A method of maintaining real-time records of inventory balances, updating the accounts after each purchase or sale.