Technological improvements are generally harmful to society because new machines replace human beings, causing increased unemployment.
Answer the following statement true (T) or false (F)
False
Technological improvements are good for society-the new machines sometimes substitute for humans, but more often increase a human's productivity. Also there are people who benefit from creating and building the new machines.
Economics
You might also like to view...
The spending multiplier does not apply to investment spending by businesses
a. True b. False Indicate whether the statement is true or false
Economics
If a town has a monopsony, this means
a. there is only one employer b. price discrimination takes place c. goods are priced too high d. no unions can exist e. excess profits are being made
Economics