Whats the right answer
You overhear a classmate making the claim that productivity-enhancing technological improvements will immediately benefit everyone in the economy. This statement is _____.(1 point)
Responses
false since technological improvements can lead to certain jobs becoming obsolete
false since technological improvements can lead to certain jobs becoming obsolete
true since no costs are associated with improvements in technology
true since no costs are associated with improvements in technology
false since technological improvements do not affect standards of living
false since technological improvements do not affect standards of living
true since human capital will be improved as well
The correct answer is:
false since technological improvements can lead to certain jobs becoming obsolete
The correct answer is:
false since technological improvements can lead to certain jobs becoming obsolete.
To determine the right answer, let's carefully analyze each response option and eliminate the incorrect ones.
Option 1:
"False since technological improvements can lead to certain jobs becoming obsolete."
This option acknowledges that technological improvements can make certain jobs obsolete. While this is a valid consideration, it doesn't necessarily invalidate the claim that productivity-enhancing technological improvements benefit everyone in the economy. Therefore, we won't select this option as the right answer just yet.
Option 2:
"True since no costs are associated with improvements in technology."
This option suggests that there are no costs related to technological improvements. However, this statement is incorrect as technological advancements often require significant investments, research and development, implementation, and training. Therefore, we can eliminate this option.
Option 3:
"False since technological improvements do not affect standards of living."
This option states that technological improvements do not impact standards of living. However, this statement is inaccurate. Technological advancements can enhance productivity, reduce costs, and lead to the development of new goods and services, ultimately improving living standards. Therefore, we can eliminate this option as well.
Option 4:
"True since human capital will be improved as well."
This option suggests that productivity-enhancing technological improvements will improve human capital. While it is true that technology can contribute to skill development and improve human capital, this response doesn't address the claim regarding the immediate benefits for everyone in the economy due to technological improvements. Therefore, we can eliminate this option too.
Based on our analysis, the most appropriate answer is:
"False since technological improvements can lead to certain jobs becoming obsolete."
This response considers the potential consequences of job displacement due to technological advancements, which is a valid point against the immediate benefits for everyone in the economy.
It is crucial to critically analyze and assess each response option when faced with multiple-choice questions to identify the most accurate answer based on the provided information.