If the Rate of Technological Change Increases,the Result Will Be

question 144

Multiple Choice

If the rate of technological change increases,the result will be that

• A) the growth rate of productivity will decrease and firms' profits will increase
• B) the growth rate of productivity will increase and firms' profits will decrease
• C) most individuals will likely lose their jobs due to lack of skills
• D) the growth rate of productivity will increase and living standards will increase
• E) firms' profits will increase and living standards will decrease

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Definitions:

Compassion

The emotional response to perceiving suffering and involves an authentic desire to help alleviate that suffering.

Instrumental Value

The value of something not for what it is itself, but for its utility in achieving something else.

Dollar Value

The worth of a good or service expressed in terms of the amount of currency required to purchase it.

Net Worth

The total value of an individual's or entity's assets minus liabilities, indicating financial health or position.