The Information Phase of Technology Primarily Requires

question 41

Multiple Choice

The information phase of technology primarily requires:

• A) Providing services.
• B) Intellectual and electronic skills.
• C) Manual and machine skills.
• D) The same skills as needed in previous phases.

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Definitions:

Inflation

The rate at which the general level of prices for goods and services is rising, eroding purchasing power.

Unemployment

The state of being without a job despite actively looking for work, measured as a percentage of the labor force.

Normative Economics

Normative economics deals with the evaluation of economic outcomes through the prism of what ought to be, recommending actions by what is deemed desirable or ideal.

Macroeconomics

The branch of economics that studies overall economic dynamics, including inflation, unemployment, and economic growth, on a national or global scale.