Which of the Following Is Not True About Technological Progress

question 5

Multiple Choice

Which of the following is not true about technological progress?

• A)allow for the production of a larger quantity of goods using the same number of workers
• B)lead to the production of new goods
• C)lead to the disappearance of old goods
• D)cause a reduction in employment in the short run
• E) none of the above

Distinguish between command-and-control and market-based policies for correcting externalities.

Understand the implications of corrective taxes and subsidies on economic efficiency and government revenue.

Understand the role and impact of patent protection in managing technology spillovers.

Comprehend the concept of externalities and their effect on market equilibrium, including positive externalities.

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Definitions:

Reasoning

The mental process of generating conclusions, judgments, or inferences from facts or premises.

Naïve Psychology

An everyday, common-sense psychology that people use to understand and explain their own and others' behaviors.

Mental States

The condition of one's mind or psychological being at a particular time, including thoughts, feelings, and consciousness.

Information-Processing Capacity

The maximum amount of information that an individual can perceive, analyze, and remember at any given time, which influences cognitive performance and task efficiency.