Which scenario below most accurately describes the process by which a technological change can affect employment patterns across industries?
A) A technological advance makes it possible to produce more of good X with less labor. As a result, labor is released from producing good X. Some of this labor ends up producing goods Y and Z.
B) A technological advance makes it possible to produce less of good X with less labor. As a result, labor is released from producing good X. Some of this labor ends up producing good Y.
C) A technological advance makes it possible to produce more of good X with more labor. As a result, more labor is needed to produce good X. There is less labor available to produce goods Y and Z.
D) A technological advance makes it possible to produce more of good X with less labor. As a result, labor becomes more important to the production of good X. More labor ends up producing good X.
Correct Answer:
Verified
Q98: Exhibit 2-6 Q99: Exhibit 2-7 Q100: Exhibit 2-6 Q102: The economy is currently on its production Q105: An economy can produce either of these Q105: If the law of increasing opportunity costs Q106: If there is always a 4-for-1 tradeoff Q106: Productive efficiency implies Q107: The law of increasing opportunity costs states Q113: Along its production possibilities frontier (PPF)an economy Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)the possibility of gains in
