Technological Progress Occurs When the Economy Gets More Output

question 62

Multiple Choice

Technological progress occurs when the economy gets more output

• A) without any more capital or labor.
• B) by using more capital per worker.
• C) by using more capital but not more workers.
• D) by using more labor but not more capital.

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Definitions:

British Pounds

The currency of the United Kingdom, also known as sterling.

Euros

The official currency of the eurozone, which consists of 19 of the 27 European Union countries.

Risk-Free Rate

The expected return from an investment that carries no risk of financial loss, usually symbolized by government bonds.