Which of the following is not true about technological progress?
A)allow for the production of a larger quantity of goods using the same number of workers
B)lead to the production of new goods
C)lead to the disappearance of old goods
D)cause a reduction in employment in the short run
E) none of the above

Question

Quizplus · Accepted Answer

Technological progress can indeed allow for the production of more goods with the same number of workers, lead to the production of new goods, cause the disappearance of old goods, and may cause a reduction in employment in the short run due to adjustments in the labor market. Therefore, none of the statements A through D are untrue about technological progress.

Which of the Following Is Not True About Technological Progress