The Implementation of the Assembly Line Is an Example How

question 42

Multiple Choice

The implementation of the assembly line is an example how

• A)changes in the organization of production improve productivity.
• B)neutral technical change improves productivity.
• C)non-neutral technical change can decrease productivity.
• D)labor saving technical change increases economy-wide unemployment.

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Definitions:

Economic Welfare

The overall well-being and standard of living of people within an economy, often measured by indicators like income, health, and education.

Net Private Domestic Investment

The total amount spent by businesses and firms in the economy on capital goods, minus depreciation.

Depreciation

The process of allocating the cost of a tangible asset over its useful life, reflecting the asset's consumption, wear and tear, or obsolescence.

Gross Private Domestic Investment

The total amount of private domestic investment in physical assets such as buildings, machinery, and equipment by businesses and individuals within a country.