AnswersSS57 Principles and Practices of EconomicsEconomic Systems (continued)

Technology and Economics Answers

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1
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How does the use of new technology in industry benefit consumers more so than producers?

A
Consumers can allocate their resources wisely.
B
Consumers have greater access to information.
C
Consumers can use materials from anywhere.
D
Consumers can ship goods around the world.
2
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One negative consequence of using automation to improve manufacturing production is that

A
factories often need fewer workers.
B
production will often slow down.
C
costs often rise for producers.
D
prices often increase for consumers.
3

Which group typically predicts trends in industry based on patterns?

A
consumers
B
economists
C
producers
D
shippers
4

Producers can generate instant sales by using

A
devices.
B
forecasts.
C
patterns.
D
websites.
5

When the US government becomes aware of economic changes, the discovery is most likely to influence

A
how the nation allocates resources.
B
how companies interest buyers.
C
how producers ship products.
D
how economists study trends.
6

What is the best definition of technology?

A
Technology is replacing human workers with mechanical or electronic devices.
B
Technology is applying scientific knowledge to find answers and fix problems.
C
Technology is using fewer resources to manufacture goods more efficiently.
D
Technology is hiring workers from all over the world to manufacture goods.
7

This graph shows the US unemployment rate from August 2010 to November 2011. This graph suggests unemployment in the United States

Question illustration
A
will continue to fall.
B
will continue to rise.
C
will remain the same.
D
will only change a little.
8

The government of country A has determined there is a coal shortage based on mining reports. As a result of these data, the government decreases coal exports to other nations. Access to information helped country A

A
allocate resources.
B
limit consumption.
C
purchase goods.
D
increase sales.
9

How can the use of new technology in industry benefit the US government?

A
The government can purchase materials from anywhere.
B
The government can rely on automation to reduce costs.
C
The government can react to economic changes quickly.
D
The government can transport goods around the world.
10

Technology can help governments handle economic emergencies, such as

A
the reliance on automation.
B
crop and resource shortages.
C
the fall of the unemployment rate.
D
instant sales and communication.

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