If the Rate of Technological Change Increases,the Result Will Be

question 144

Multiple Choice

If the rate of technological change increases,the result will be that

• A) the growth rate of productivity will decrease and firms' profits will increase
• B) the growth rate of productivity will increase and firms' profits will decrease
• C) most individuals will likely lose their jobs due to lack of skills
• D) the growth rate of productivity will increase and living standards will increase
• E) firms' profits will increase and living standards will decrease

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Definitions:

Geographic Boundaries

Physical or conceptual limits that define areas such as countries, states, cities, or territories for administrative, commercial, or political purposes.

Evaluate Performance

The process of systematically assessing the work and results of an individual, team, or organization to determine effectiveness and identify areas for improvement.

Gross Profit Percentage

A financial indicator that calculates the percentage of income remaining from sales after subtracting the cost of goods sold.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business, such as rent or salaries.