Technology and Economics example #7210

4 March 2024
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question
This graph could help an economist predict
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how many people will be out of work in the next year.
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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
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allocate resources.
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How can the use of new technology in industry benefit the US government?
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The government can react to economic changes quickly.
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One consequence of using automation to improve production is
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fewer jobs are available.
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What is one way that technology can improve the distribution of goods?
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Container ships can transport a number of goods at once.
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Automation allows producers to use more
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machines
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One consequence of automation is that producers need fewer
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workers
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How can the use of new technology in industry benefit producers?
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Producers can transport goods around the world.
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This graph suggests unemployment in the United States
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will continue to rise.
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How can the use of new technology in industry benefit workers?
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Workers can gain new knowledge and skills.