Which of the following arguments are correct:
A)Canada is entering an era of low structural unemployment due to rapid technological change.
B)technological advance will result in a lower rate of economic growth.
C)innovations in computers and communications, together with global competition, are boosting Canadian productivity and the economy's potential economic growth rate.
D)technological change will require more central planning and government regulation.

Question

Quizplus · Accepted Answer

Innovations in computers and communications, together with global competition, have led to higher productivity and economic growth, rather than a lower rate of growth. This has been observed in many countries including Canada. A and D are incorrect as Canada's structural unemployment rate may not necessarily decline due to technological change, and technological change does not necessarily require more central planning and government regulation.

Which of the Following Arguments Are Correct