Asked by Diedre McCoy on Apr 27, 2024
Verified
Over the long run,technological change increases both labor productivity and unemployment rates.
Technological Change
The introduction of new technologies and methods that increase productivity and may lead to economic growth and changes in how industries operate.
Labor Productivity
An indicator of economic efficiency that evaluates the quantity of goods and services generated relative to the hours of labor required to produce them.
Unemployment Rates
The share of the working population that is not employed but is in active pursuit of employment.
- Comprehend the significance of technological advances and their dual impact on labor markets and productivity.
Verified Answer
Learning Objectives
- Comprehend the significance of technological advances and their dual impact on labor markets and productivity.
Related questions
The Figure Below Shows a Per-Worker Production Function ...
Technological Change Creates Long-Term Hardships for Workers with Specialized Skills
A Breakthrough in Technology Is Most Likely To ...
Which of the Following Was a Consequence of the Increased ...
Over the Past 50 Years,the Growth of Real GDP in ...