Asked by Adison Evans on Apr 27, 2024
Verified
A breakthrough in technology is most likely to:
A) reduce the labor needed to produce a given amount of output.
B) decrease the demand for all goods and services in a country.
C) increase the cost of production for a firm.
D) reduce the availability of skilled workers.
E) lower the standard of living in a country in the long run.
Breakthrough
A significant or sudden advance or discovery that contributes to progress in a particular field.
Labor Needed
The amount of workforce or manpower required to complete a task, fulfill a job, or achieve a production goal.
Standard Of Living
A level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or a certain geographic area.
- Perceive the consequences of technological innovation on workforce employment and economic dynamics.
Verified Answer
Learning Objectives
- Perceive the consequences of technological innovation on workforce employment and economic dynamics.
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