Which of the following is true?
a. Automated production processes are generally adopted regardless of whether they reduce costs.
b. Automated production processes eliminate jobs and, thereby, endanger our future living standards.
c. Cost-reducing automated production techniques will expand output directly and/or release scarce resources for the expansion of output in other areas.
d. Use of the most advanced technology will always minimize the cost of a productive activity.
C
You might also like to view...
Convergence refers to closing the gap in ________ between poorer countries and richer countries
A) real GDP B) the growth rate in real GDP C) real GDP per capita D) the growth rate in real GDP per capita
A person who takes less care of his health after obtaining a health insurance is creating a negative externality
a. True b. False Indicate whether the statement is true or false