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The case of physical banking and online banking illustrates that Select one: a. capital is, overall,...

The case of physical banking and online banking illustrates that

Select one:

a. capital is, overall, a complement for labor, not a substitute.

b. technological innovation is generally detrimental to employment

c. capital and labor are almost always used in fixed proportions.

d. capital is primarily a substitute for labor.

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Answer #2

correct answer is (b) technological innovation is detrimental to employment

Technological advances can create enormous economic and other benefits, but can also lead to significant changes for workers. IT and automation can change the way work is conducted, by augmenting or replacing workers in specific tasks. This can shift the demand for some types of human labor, eliminating some jobs and creating new ones

The automation of cognitive tasks started with the introduction of the computer, which enabled the digitization and automatic processing of information. Subsequently, many processes, including administrative tasks, bookkeeping, invoicing, optimizing resource needs, and numerous others, have already been automated

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