Economic growth depends more on technological change than on increases in capital per hour worked.

Question

Quizplus · Accepted Answer

Technological change refers to advancements in technology and how they are utilized to increase productivity, efficiency, and innovation. This can lead to increased economic growth by generating new industries, products, and services, and improving the efficiency of existing ones. Increases in capital per hour worked may also contribute to economic growth to some extent, but technological change is often seen as the primary driver of long-term economic growth.

Economic Growth Depends More on Technological Change Than on Increases