Question

Which statements would economist Robert J. possibilities frontier? Gordon agree with regarding the effect of technology investment on the production Choose one or more A. In the twenty-first century, investment in technology is an especially effective way to increase long-run production possibilities. As a booster of long-run production possibilities, investment in the technology of the twenty-first century is overrated e C. Technology investment had a bigger impact on long-run production possibilities a hundred years ago than it does today . Technology investment has a bigser impact on long-run production possiblities today than it did a hundred years ag

Answer 1

The correct options are B and C

B. As a booster of long-run production possibilities, investment in the technology of the twenty- first century is overrated.

C. Technology investment had a bigger impact on long-run production possibilities a hundred years ago than it does today.

Reason-

In twenty-first century production increases because of technology investment. Technology investment means development in production technologies. Conversely In twenty-first century technology change rapidly hence production also rises rapidly. Hundred years back means in nineteen century influence of technology investment on PPF is greater than today because today technology changing is normal.