Asked by Ryleigh Geddes on May 18, 2024
Verified
Which statement is false?
A) Technological change is the key to productivity growth.
B) Productivity is output per unit of input.
C) The only way to build up capital is to consume more and save more.
D) In the 1950s,1960s,and 1970s,Americans managed to save about 7-8% of disposable income.
Technological Change
The innovation and improvement in technology, processes, or methods, leading to increased efficiency, productivity, and new product development, affecting various sectors of an economy.
Productivity Growth
The increase in the efficiency of production in an economy, often measured by the output per unit of input over time.
Disposable Income
After-tax income. Term applies to individuals and to the nation.
- Understand the impact of technological change on productivity growth.
- Recognize the evolution of the United States' savings rate and its implications on the economy.
Verified Answer
AG
Apprecia GeanesMay 19, 2024
Final Answer :
C
Explanation :
Building up capital can also be done through investments or borrowing. It is not the only way to consume more and save more.
Learning Objectives
- Understand the impact of technological change on productivity growth.
- Recognize the evolution of the United States' savings rate and its implications on the economy.