Which of the following represents a dimension of technological progress?
A)larger quantities of output for given quantities of capital and labor
B)better products
C)a larger variety of products
D)new products
E) all of the above

Question

Quizplus · Accepted Answer

All of the given options represent a dimension of technological progress. Technological progress can lead to larger quantities of output for given quantities of capital and labor through the development of more efficient machines and production processes. It can also lead to better products through improvements in product design, quality control, and production techniques. In addition, technological progress can result in a larger variety of products and the introduction of entirely new products that were not possible before.

Which of the Following Represents a Dimension of Technological Progress