Which of the following statements is true?
A) Technological innovation can cause wages to fall for some workers.
B) Technological innovation increases wages for all workers in an economy.
C) Technological innovation always leads to unemployment in the economy as a whole.
D) Technological innovation reduces the demand for goods and services in an economy.
A
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If a firm spends $600 more on advertising, its
A) ATC and MC curves shift upward. B) MC curve shifts upward and its ATC curve does not shift. C) ATC curve shifts upward and its MC curve does not shift. D) ATC curve shifts upward and its MC curve shifts downward.
If a marginal cost pricing rule is imposed on the firm in the figure above, the total surplus will be
A) zero. B) $800. C) $400. D) $200.
According to Chandler and Cortada (2000), the driving force of the U.S. economy has been what since the beginning?
(a) Agriculture (b) Manufacturing (c) Information (d) Steel and automobiles
Between 1922 and 1929 stock prices increased by more than
a. 100%. b. 200%. c. 300%. d. 1000%.