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

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Definitions:

FIFO Assumption

The First-In, First-Out method is an accounting assumption used to manage inventory and cost of goods sold, assuming the first items placed into inventory are sold first.

Subsidiary Shares

Shares owned by a parent company in a subsidiary, representing a controlling interest in that subsidiary.

Common Shares

Shares of stock representing ownership in a company, giving holders voting rights and a share in the company’s profits through dividends.

Stockholders' Equity

The residual interest in the assets of an entity after deducting liabilities, representing ownership interest held by stockholders.