The Introduction of New Technology Causes

question 82

Multiple Choice

The introduction of new technology causes

• A) the production function to shift upward
• B) real output to decrease
• C) a decrease in the standard of living
• D) decreases in capital stock
• E) productivity to decrease

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Definitions:

Decider

The person responsible for making decisions, especially in contexts where multiple individuals or groups may be affected.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning that no one can be prevented from using them and one person's use does not reduce availability for others.

Commons Dilemma

A situation in which individuals' short-term self-interest conflicts with long-term group interest and well-being, typically regarding the overconsumption of a shared resource.

Scarce Resources

Goods or services that are limited in availability relative to the desires or needs of individuals or systems.