Most Economists Generally Argue ________ Trying to Block Technological Advances

question 35

Multiple Choice

Most economists generally argue ________ trying to block technological advances because these technological advances ________.

• A)in favor of; cause the economy to grow to rapidly
• B)in favor of; increase wage inequality
• C)against; are necessary for improved standards of living
• D)against; promote wage equality

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Definitions:

Supply

The total quantity of a product or service that is available to consumers at a given price level.

Wage Increase

The rise in the hourly, daily, or monthly pay rate for workers, often sought after by employees and unions.

Employment in Steel Industry

Refers to the workforce engaged in the production and processing of steel, an important sector for many economies.

Elastic Demand

A situation where the quantity demanded of a product changes significantly due to a change in its price.