Historical note: When the railroad displaced water transport as the principal means of long-distance transportation, it sparked massive investment spending not only in the railroad industry, but in secondary industries such as
a. mining, automobiles, and genetic engineering
b. steel, computers, and videocassette recorders
c. lumber, construction, and aviation
d. construction, steel, housing, and semiconductors
e. mining, steel, lumber, and construction
E
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The use of robots in agriculture is an example of
A) organizational changes leading to increased productivity. B) decreasing returns to scale. C) neutral technical change leading to increases in productivity. D) nonneutral technical progress.
Jaime's father gives her a pen for her graduation from college, but Jaime wants a smartphone. This implies that
A) Jaime's father is not acting out of self-interest because he knows that she really wants a smartphone. B) Jaime's father is acting out of self-interest because he wants to give her something useful. C) Jaime is not acting out of her self-interest by wanting something different from what her father gives her. D) Jaime is not rational by asking for a smartphone instead of a pen.