Discuss the following statement Those who argue that technological progress does not reduce employment should look at agriculture. At the start of the last century, there were more than 11 million farm workers. Today, there are fewer than 1 million. If all sectors start having the productivity growth that took place in agriculture during the 20th century, no one will be employed a century from now. According to this statement, technological progress in the agricultural sector has O A. led to an increase in agricultural employment by expanding agricultural production. O B. caused agricultural prices to fall. OC. led to a reduction in agricultural employment. O D. caused the wages of farm workers to decline. Which of the following is a correct statement about the effect of technological progress? O A. Technological progress has had no effect on the natural rate of unemployment O B. Technological progress has led to an increase in the natural rate of unemployment. OC. Technological progress has led to a reduction in the natural rate of unemployment. O D. It has led to an unpredictable fluctuation in the natural rate of unemployment.

Discuss the following statement Those who argue that technological progress does not reduce employment should look at agriculture. At the start of the last century, there were more than 11 million farm workers. Today, there are fewer than 1 million. If all sectors start having the productivity growth that took place in agriculture during the 20th century, no one will be employed a century from now. According to this statement, technological progress in the agricultural sector has O A. led to an increase in agricultural employment by expanding agricultural production. O B. caused agricultural prices to fall. OC. led to a reduction in agricultural employment. O D. caused the wages of farm workers to decline. Which of the following is a correct statement about the effect of technological progress? O A. Technological progress has had no effect on the natural rate of unemployment O B. Technological progress has led to an increase in the natural rate of unemployment. OC. Technological progress has led to a reduction in the natural rate of unemployment. O D. It has led to an unpredictable fluctuation in the natural rate of unemployment.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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