Labor-saving technology causes which of the following?

Question

Quizplus · Accepted Answer

Labor-saving technology causes a decrease in the need for manual labor, which leads to (ii) increased productivity and efficiency and (iv) potential job displacement for workers who are replaced by machines. Therefore, both options (ii)and (iv) are correct. Option (i) refers to the impact on wages and option (iii) refers to the impact on the cost of goods and services, which are not directly caused by labor-saving technology.

Labor-Saving Technology Causes Which of the Following