Question

Why has manufacturing employment decreased as a share of total employment in Canada over the last 50 years?

A-Because manufacturing products have an elastic demand so that lower prices lead to more machines being used and less workers being hired;

B- Because manufacturing products have an inelastic demand so that lower prices lead to more machines being used and less workers being hired;

C-Because China produces most manufacturing products;

D-Because manufacturing products have a demand elasticity equal to one so that lower prices lead to more machines being used and less workers being hired

Question-1 b)

By 2025 what do you think is the likelihood (or probability) that an artificial intelligent (AI) machine be used as a member of a corporate board of directors?

A-0% (like today)

B-25%

C-50%

D-75%

E-100%

What is the probability that umpires/referees and other sport officials be replaced by computers in the next 10-20 years

A-0% (like today)

B-40%

C-80%

D-100%

What is the probability that a psychologist be replaced by a computer in the next 10-25 years?

A-0% (like today)

B-25%

C-50%

D-75%

E-100%

Answer 1

Answer)

1. Given part focuses on lowering contribution in total employment by manufacturing industry in Canada,the answer lies in the fact that people have shifted in different areas of the economy,the time period which is 50 years is critical,it is the same period where China 's emergence as a manufacturer started,especially since 80's and that means more imports from China leading to less local production leading to less requirement of workforce leading to less employment in sector,in fact Chinese imports are major part of manufcturing industry in Canada and a lot of other parts of the world which automatically leads to less employment in that sector for host country.So option c) because China produces most manufacturing products is the correct option.
2. There are 2 aspects of this question,first is whether AI be in corporate board of directors,second is time aspect that is by 2025,while it is possible that AI will be there in corporate board but to be by 2025 is extremely unlikely,reason being how many AI are currently in important decision making roles of companies,how many AI are actually working independently,answer to these 2 questions is few or almost negligible and to see them elevated to board by 2025 has extremely low probability,so option A) 0% is correct option.
3. Here like the previous question we have 2 aspects,first coputers replacing referees,second timeline which is 10-20 years,now here situation is different as a lot of sports partially uses computer like VAR in premier league,however full replacement is not yet there ,however timeline of 10-20 years is quite long and thus I would give it moderate chance which is given by option b) 40% and that is the correct option too.
4. This has 2 aspects too,first whether it is possible at all ,second timeline which 10-25 years,note human touch is extremely critical in this area as it is about emotions,however one cannot completely deny possibility of AI developing responses to these emotions completely,with relaxing timeline,I will give it a low but possible chance at 25% which is represented by option b) 25% and is correct option too.

Answer is complete.Thank you!