Technological advancement is defined as:
A) the increase in the quantity of inputs needed to produce a given quantity of output.
B) the reduction in the quantity of inputs needed to produce a given quantity of output.
C) the reduction in the productivity of a sector of the economy that has become obsolete.
D) an increase in the labor to capital ratio in any production process.
E) the growth in the natural resource endowment.
Correct Answer:
Verified
Q29: An expansion in a country's capital stock
Q30: Long-term economic growth requires a permanent:
A)decline in
Q31: Which of the following is considered a
Q32: Per capita real GDP is of limited
Q33: Which of the following is accounted for
Q35: What is the approximate per capita income
Q36: The ability of a country to invest
Q37: Which of the following is a barrier
Q38: The baby boom of the post-World War
Q39: Which of the following stands true for
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents