Some believe that technological progress leads to higher unemployment in the medium run.This claim that technological progress results in an increase in unemployment in the medium is supported by
A)economic theory, but contradicted by the evidence.
B)theory and evidence.
C)the evidence, but contradicted by theory.
D)neither theory nor evidence.
E) none of the above

Question

Quizplus · Accepted Answer

Economic theory generally suggests that technological progress can lead to job displacement in the short term but tends to create new jobs and increase productivity in the medium to long term. Empirical evidence often shows that while specific sectors may experience job losses, overall employment levels tend to recover or even increase due to new opportunities created by technological advancements.

Some Believe That Technological Progress Leads to Higher Unemployment in the Medium