There Are Some Concerns That Technological Progress Can Lead to an Increase

question 15

Essay

There are some concerns that technological progress can lead to an increase in unemployment.Explain the two related but separate dimensions of technological progress.

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Definitions:

360-Day Year

A financial calculation convention using a simplified year of 360 days to facilitate easier interest calculations.

Exact Interest

A method of calculating interest based on a 365-day year or actual number of days in a loan or investment period, providing a precise interest calculation.

365-Day Year

A conventional method of calculating interest based on a 365-day year, often used in financial calculations.

Estimate Interest

An approximation of the interest amount over a certain period based on a given rate.