The faster the rate of technological progress:
A)the greater the rate of economic growth.
B)the slower the rate of economic growth.
C)the greater the rate of population growth.
D)the slower the rate of growth of the money supply.

Question

The faster the rate of technological progress:
A)​the greater the rate of economic growth.
B)​the slower the rate of economic growth.
C)​the greater the rate of population growth.
D)​the slower the rate of growth of the money supply.

Quizplus · Accepted Answer

The faster the rate of technological progress, the greater the rate of productivity improvement, which leads to an increase in output and economic growth. Technological progress allows for more efficient methods of production and innovation, which results in higher profits, lower costs, and the creation of new markets and jobs. Therefore, technological progress is an important driver of economic growth.

The Faster the Rate of Technological Progress