Due to Increasing Ability of Artificial Intelligence, Individuals with a Job

question 20

True/False

Due to increasing ability of Artificial Intelligence, individuals with a job doing language translation will soon be out of a job.

Identify the effects of minimum wage laws on employment and unemployment.

Explain the consequences of surplus and shortage caused by price controls.

Describe how price controls affect consumer welfare and market efficiency.

Understand the rationales behind imposing and removing price controls.

---

Definitions:

Deuterostomes

A classification of animals characterized by the development of the anus from the first opening in the embryo, with the mouth forming later.

Echinoderms

A phylum of marine animals known for their radial symmetry and include starfish, sea urchins, and sea cucumbers.

Water-Vascular System

A unique hydraulic system used by echinoderms (such as starfish and sea urchins) for locomotion, feeding, and gas exchange.

Echinoderms

A phylum of marine animals known for their radial symmetry and include species such as starfish, sea urchins, and sea cucumbers.