Question

if a new technology doubles the production of workers as well as the level of production output, then this will do what?

Answer 1

When new technology doubles worker production and output, it leads to considerably enhanced productivity growth, potentially with increased output quality and lower costs.

Step-by-step explanation:

If a new technology doubles the production of workers as well as the level of production output, it implies a significant increase in productivity growth. When productivity rises due to technological advancements, like those that might occur within a hypothetical company like Technotron, it can lead to increased output and quality of goods with potentially fewer workers and lower costs. Countries with robust institutions for worker training and machine building are particularly well-positioned to adopt these new technologies quickly and at low marginal costs, thereby benefiting a maximum number of people and encouraging a cycle of continuous technological improvement.

Answer 2

If a new technology doubles the production of workers as well as the level of production output, then this will result in an increase in productivity.

Step-by-step explanation:

If a new technology doubles the production of workers as well as the level of production output, then this will result in an increase in productivity. The new technology allows the company to produce more with the same amount of resources, which leads to higher efficiency and output. This can lead to various benefits such as increased profits, higher wages for workers, and economic growth for the company or industry. For example, a new machine that automates a task can allow workers to produce twice as many goods in the same amount of time.