Which of the following statement is false? Technological innovation in the manufacturing sector will not reduce the number of manufacturing jobs because innovation always creates new jobs. Automation could lead to some workers being permanently unemployed despite the fact that innovation S creates new jobs. Automation of some jobs may lead to the creation of new jobs. Technological innovation in one sector (e.g. car manufacturing) could lead to new jobs in that sector or in other sectors. Automation could lead to some workers being permanently unemployed if their current skills become obsolete and they fail to upskill themselves.

Which of the following statement is false? Technological innovation in the manufacturing sector will not reduce the number of manufacturing jobs because innovation always creates new jobs. Automation could lead to some workers being permanently unemployed despite the fact that innovation S creates new jobs. Automation of some jobs may lead to the creation of new jobs. Technological innovation in one sector (e.g. car manufacturing) could lead to new jobs in that sector or in other sectors. Automation could lead to some workers being permanently unemployed if their current skills become obsolete and they fail to upskill themselves.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter1: Welcome To Economics!

Section: Chapter Questions

Problem 20CTQ: Suppose you have a team of two workers: one is a baker and one is a chef. Explain why file kitchen...

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1.2) You are given the following different technologies for producing 100 metres of cloth. (SEE ATTACHED PICTURE) Select one or more: a. Technology C dominates technology A. b. Technology D is more labour-intensive than technology C. c. Technology A is the cost-minimising technology at all prices of coal and wages. d. Technology C can sometimes be a cheaper technology than A. Please state only which awnsers are correct please.Thank you and Happy New Year
estion 4 There was a manufacturing productivity on the Nash production line which was about 349 units per hour in 2020. In 2021, the manufacturing productivity was 252 units per hour due to pandemic. What was the productivity growth from 2020 to 2021? h Note: Round up to the last 2 decimals example 9.6568->9.66 Answer 4
stion 4 There was a manufacturing productivity on the Nash production line which was about 349 units per hour in 2020. In 2021, the manufacturing productivity was 252 units per hour due to pandemic. What was the productivity growth from 2020 to 2021? h Note: Round up to the last 2 decimals example 9.6568->9.66 Answer 4
What are the benefits and risks associated with just-in-time delivery of inputs to factories? Why do computer chip factories run continuously rather than maintaining some spare capacity? What is the underling economic concept that explains why 80 percent of the world's most advanced computer chips are produced by a single firm, Taiwan Semiconductor, rather than by many small firms? Just-in-time delivery of inputs to factories has benefits and risks. Identify which of the following are true. You may select more than one answer. Instructions: In order to receive full credit, you must make a selection for each option. For correct answers), click the box once to place a check mark. For incorrect answerts), click the option twice to empty the box. 5 33 It eliminates the costs associated with maintaining inventories of inputs If a single type of input is not delivered on time, a factory production line will have to be shut down. Inventories are easier to track and manage 33 Firms can more…
Short Answer 12) Using the following table, which of the production choices (a, b, c, d, e) are technologically efficient? If the price of capital is the same as the price of labor, which choice is economically efficient? Finally, explain the relationship between technological efficiency, economic efficiency, isoquants, and isocost lines. Feel free to use a graph to help show what you are explaining if you'd like, but make sure to clearly label everything on your graph so I can see what you are describing in the graph. Production Technique Output 100 Capital Labor 15 B 100 6. 16 C 100 12 9. 100 12 4
What is meant by technological advance, as broadly defined? How does technological advance enter into the definition of the very long run? Which of the following are examples of technological advance, and which are not: an improved production process; entry of a firm into a profitable purely competitive industry; the imitation of a new production process by another firm; an increase in a firm’s advertising expenditures?
Suppose you have a team of two workers: one is a baker and one is a chef. Explain why file kitchen can produce more meals in a given period of time if each worker specializes in what they do best than if each worker tries to do everything from appetizer to dessert.
Case: Suppose you are watching a news report with a friend. The news report points out that a certain African nation generates a GDP per capita of only $1300 per year. Since your friend knows that Slovenia’s GDP per capita is approximately $26 000, he suggests that Slovenians are materially 20 times better off than the people of the African nation. Is your friend’s statement accurate?
1. Briefly explain what the term "agglomeration economies" refers to and briefly describe what the fundamental reason for the development of this particular type of economy relates to. Provide two examples of factors associated with agglomeration economies and identify what these factors help to explain. Identify two factors that would lead to diseconomies and briefly explain how the future of many of the world's cities will be likely be determined. 2. Describe the concept of diminishing returns in production. Explain why diminishing returns occurs.
8:49 il LTE https://undergrad.unilus.app/pluginfile... O ... Combination 2 Combination 3 Country B Efficient Attainable Unattainable Inefficient Combination 1 K M N Combination 2 R Combination 3 T U (22 Marks) b) Which country has an absolute advantage in production of wine? Justify your answer with empirical evidence. (2 Marks) c) Which country has an absolute advantage in the production of clothes? Justify your answer with empirical evidence. (2 Marks) d) Which country has a comparative advantage in the production of wine? Justify your answer with empirical evidence. (4 Marks) e) Which country has a comparative advantage in the production of clothes? Justify your answer with empirical evidence. (4 Marks) f) If both countries specialize in the production of the item they are good at, draw the PPF for the condition where trade can take place. (6 Marks) (TOTAL: 40 MARKS)
(Ch 03) Homework Consider two neighboring island countries called Dolorium and Bellissima. They each have 4 million labor hours available per week that they can use to produce corn, jeans, or a combination of both. The following table shows the amount of corn or jeans that can be produced using 1 hour of labor. Corn Jeans Country (Bushels per hour of labor) (Pairs per hour of labor) Dolorium 5 20 Bellissima 8 16 Initially, suppose Bellissima uses 1 million hours of labor per week to produce corn and 3 million hours per week to produce jeans, while Dolorium uses 3 million hours of labor per week to produce corn and 1 million hours per week to produce jeans. Consequently, Dolorium produces 15 million bushels of corn and 20 million pairs of jeans, and Bellissima produces 8 million bushels of corn and 48 million pairs of jeans. Assume there are no other countries willing to trade goods, so, in the absence of trade between these two countries, each country consumes the amount of corn and…
4. Discuss the difference between productivity on the "extensive margin" and "intensive margin" (A bonus will accrue to those who incorporate COVID vaccines and boosters into their answer.)