Technological Change Has Played a Major Role in Increasing Competition

question 41

True/False

Technological change has played a major role in increasing competition in recent years.

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Definitions:

Fuel Economy Standards

Regulations set by the government to improve the average fuel efficiency of cars and light trucks.

Market Economy

A system where the prices of goods and services are determined by supply and demand, rather than by government intervention.

Employment Discrimination

Unfair treatment of employees based on race, gender, age, religion, nationality, disability, or sexual orientation rather than job performance or qualifications.

Full Employment

A situation in an economy where all available labor resources are being used in the most efficient way possible, typically characterized by the absence of involuntary unemployment.