Over the long run,technological change increases both labor productivity and unemployment rates.

Question

Quizplus · Accepted Answer

Technological change typically increases labor productivity but does not necessarily lead to higher unemployment rates in the long run. While it may cause temporary disruptions in employment as industries adjust, over time, it can lead to the creation of new jobs and industries, offsetting initial job losses.

Over the Long Run,technological Change Increases Both Labor Productivity and Unemployment