Some Believe That Technological Progress Leads to Higher Unemployment in the Medium

question 60

Multiple Choice

Some believe that technological progress leads to higher unemployment in the medium run.This claim that technological progress results in an increase in unemployment in the medium is supported by

• A)economic theory, but contradicted by the evidence.
• B)theory and evidence.
• C)the evidence, but contradicted by theory.
• D)neither theory nor evidence.
• E) none of the above

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Definitions:

Shareholder Theory

The theory that a corporation primarily has a duty to maximize shareholder value and profit, as advocated by Milton Friedman.

Firm's Purpose

A firm's purpose is its core reason for existence, encompassing its mission, values, and goals, which guides its strategies and operations.

Stakeholders

Individuals or groups that have an interest in the performance and activities of a company, including employees, customers, suppliers, and investors.

Strategic Goal

Refers to a long-term aim that guides decision-making and strategy formulation in an organization.