In the Long Run, Changing Technology Has Led To

question 14

Multiple Choice

In the long run, changing technology has led to:

• A) lower employment and lower wage rates.
• B) higher employment and lower wage rates.
• C) lower employment with wage rates unchanged.
• D) higher employment with wage rates unchanged.
• E) higher incomes and more leisure time.

---

Definitions:

Budget Constraint

Represents the combination of goods and services that a consumer can purchase given their income and the prices of those goods and services.

Income

The monetary payment received for goods or services, or from investments, typically measured per period like annually or monthly.

Apples

A popular fruit cultivated worldwide, known for its variety in taste, color, and utility in both raw and cooked forms.

Bananas

A kind of extended, consumable fruit that comes from a range of big, herbaceous blooming plants belonging to the Musa genus.