Historically, development of a new technology often:
A. results in immediate increases in productivity.
B. leads to increases in productivity only once firms learn how to use it.
C. requires a complementary increase in physical and human capital.
D. has had no impact on changes in productivity.
Ans: B. leads to increases in productivity only once firms learn how to use it.
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One hundred percent reserve banking refers to a situation in which banks' reserves equal 100 percent of their:
A. profits. B. loans. C. deposits. D. income.
When money provides a yardstick that allows individuals to compare the relative values of goods and services, it is functioning as a
A) standard of deferred payment. B) medium of exchange. C) unit of accounting. D) store of value.
How well has the international capital market perform?
What will be an ideal response?
Which of the following would most likely be classified as a natural monopoly?
A) a city water district B) Microsoft C) Disneyland D) Exxon-Mobil