Question

True or False:

a.It is clear that the rate of technological growth has declined in the last decade.

b. Mismeasurement explains a large part of the decline in technological progress.

c. New technologies do generally displace workers with lower skills.

d. Innovations known as general-purpose technologies occur frequently.

e. The introduction of robots may actually increase total employment.  

f) There is evidence that workers displaced by plant closures associated with technological change suffer a long-term wage loss.

Answer 1

(a) False.

Day by day technological progress is increasing, we can say that 90%of the world's data has been generated in the last few years because of technology.

(b) True.

Large part of the technogical progress shows declining because of mismeasurement. Measuring technology is a difficult task because every year technologies changes.

(c) True.

Because of new technologies and advancement of machines, the number of lower skill labours are declining. The reason behind this is that machines are making all the work easier and less time consuming.

(d) False.

Innovation which is also known as general purpose technologies does not occur frequently. Innovation means the introduction of new products, opening of new market,etc. To innovate something new, there arises many obstacles in the process from which we can say that innovation does not occur frequently.

(e) True.

Because of the introduction of robots, the level of productivity and competitiveness increases which in turn increases the demand and creates new job opportunities.

(f) True.

Workers displaced by plant closure associated with technological change suffer a long term wage loss because of introduction of technology, the burden of work on workers decreases due to which they have to face long term wage loss.