Technological advancements cause structural unemployment. ...

[K@]

Technological advancements cause structural unemployment. However, they help in:
 a. lowering the rate of interest in the economy.
  b. increasing the price level in the economy and hence make business more profitable for the firms.
  c. improving living standards by giving consumers a greater variety of goods at lower costs.
  d. raising government's tax revenue.
  e. raising the aggregate income in the economy.

Question 2

It is possible to completely eliminate scarcity.
 a. True
  b. False
  Indicate whether the statement is true or false

[bblaney]

Answer to Question 1

c

Answer to Question 2

False

[K@]

Excellent

[alvinum]

Thanks for the timely response, appreciate it