Explain why there is nothing predetermined about the relationship between time and progress in technology that would make Moore's Law into an actual law
What will be an ideal response?
Accordingly to Moore's Law, technological advances should double every two years. However, there is nothing predetermined about the relationship between time and progress in technology that would make this into an actual "law." This progress results from the investments of several companies in new computer technologies, which are in turn driven by the profitability of these investments. It also relies on government support for university and private research and on the ability of the United States and other advanced and developing nations to attract increasing numbers of young, talented students into science, engineering, and related fields. Things can change in the future, halting this rapid progress in technology. Fewer college students could choose to major in science and engineering in the future, or governments could decide to limit or even stop their support for private or university research, weakening incentives for further technological advances. Moreover, even without a major cutback in funding or a change in the profitability of research in this area, the rate of advance may slow down from its current breakneck pace.
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Which of the following would be expected to shift the consumption function up?
A) decreases in wealth B) increases in the nation's population C) expectations of harder times ahead D) changes in real disposable income
For economic growth to take place, we must consume more and save less.
a. true b. false