The United States was unable to maintain its dominance in the production of televisions because:
A. the highly technical skills necessary to produce televisions are greater in other countries.
B. the product designs evolved too rapidly for engineers in the United States to keep up.
C. automated techniques allowed production to be outsourced to countries with less-skilled workers.
D. the raw materials necessary to build televisions became scarce in the United States.
Answer: C
You might also like to view...
In Techland, from 1980 to 2010, holding technology and human capital fixed, increasing physical capital per worker from $25,000 to $100,000 would have led to a doubling of real GDP per worker, from $40,000 to $80,000. However, not only did physical capital per worker increase from $25,000 to $100,000, but technological progress shifted the productivity curve upward so that real GDP per worker actually increased from $40,000 to $320,000.Look at the scenario Technological Progress and Productivity Growth in Techland. What share of the growth rate of real GDP per capita was attributable to higher total factor productivity?
A. 2.0% B. 5% C. 8.75% D. 6.5%
Adverse shocks such as the crop failures of 1972–1973 and the oil price increases of 1974 and 1979 pushed the economy’s
A. aggregate supply curve outward. B. Phillips curve inward toward the origin. C. aggregate supply curve inward. D. aggregate demand curve inward.
The first successful application of continuous process manufacturing was in:
a. textile mills. b. automobile manufacturing. c. manufacturing of guns. d. grain milling.
If the government establishes a price floor for agricultural products, then
A) consumers will pay a lower price for the products. B) consumers will increase the quantity that they are willing to consume. C) farmers will want to decrease their production. D) the government will need to purchase the resulting surplus. E) all of the above