Certain industries of the U.S. economy, such as farming and heavy equipment manufacturing, have experienced a significant decline in employment. Which of the following best explains this job loss?
A) The cause is a decline in the productivity of labor in these industries.
B) Workers lost these jobs because technological advances increased productivity.
C) The U.S. economy cannot compete in these industries any longer.
D) Government regulations have eliminated profit opportunities in these industries.

Question

Quizplus · Accepted Answer

History shows that technology has allowed business organizations to be more productive and therefore require less labor. This scenario first was observed in agriculture as productivity increases resulted in fewer farm jobs. Technological improvements in manufacturing have also resulted in increased productivity and fewer jobs.

Certain Industries of the U