Technological Change Will

question 213

Multiple Choice

Technological change will

• A)shift the per-worker production function up.
• B)shift the per-worker production function down.
• C)move the economy to a point beneath the per-worker production function.
• D)move the economy along a given per-worker production function.

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Definitions:

Retained Earnings

Accumulated net income that a company decides to keep rather than distribute to its shareholders as dividends.

Owners' Equity

Owners' equity represents the ownership interest of the shareholders or owners in the net assets of a company, reflecting the difference between assets and liabilities.

Current Liability

A financial obligation that is due within one year or within the normal operating cycle of the business.

Worksheet

A paper or spreadsheet used by accountants to prepare adjusting entries and to produce financial statements.