Technological Change

question 14

Multiple Choice

Technological change

• A) inevitably creates persistent technological unemployment.
• B) is reflected in improvements in labor output per hour.
• C) increases the intended spending function faster than the growth in output.
• D) has no impact on long-run aggregate supply without specific government intervention to increase it.
• E) causes the profitability of existing investment to fall, reducing the intended spending function.

---

Definitions:

Form 1040EZ

A simplified tax form for individuals in the United States who have a straightforward tax situation, enabling a faster filing process. (Note: As of my last update, Form 1040EZ has been discontinued and replaced by a redesigned Form 1040.)

Tax Rate Schedule

A chart that helps determine tax liability based on income levels and filing statuses, guiding how much tax is owed.

Simplified Tax Formula

A streamlined method for calculating taxable income, starting with adjusted gross income, subtracting either standard or itemized deductions, and personal exemptions.

Average Tax Rate

The ratio of the total amount of taxes paid to the total tax base (taxable income or expenditure), revealing the percentage of income paid in taxes.