Question

Suppose advances in computer technology lead to a surge in worker productivity. In the long run, output will ________ and the price level will ________.

Answer 1

Answer:

increase; decrease.

Explanation:

Technology can be defined as a branch of knowledge which typically involves the process of applying, creating and managing practical or scientific knowledge to solve problems and improve human life. Technologies are applied to many fields in the world such as medicine, information technology, cybersecurity, engineering, environmental etc.

Generally, technology has impacted the world significantly and positively as it has helped to automate processes, increased efficiency and level of output with little or no human effort.

Assuming advances in computer technology led to a surge in the level of productivity by the workers working in a company. In the long run, output will increase and the price level will decrease.