Technological Change Was a Major Contributor to the Productivity Speed-Up

question 107

True/False

Technological change was a major contributor to the productivity speed-up from 1995-2000.

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Definitions:

International Trade

The exchange of goods and services between countries, which allows for greater diversity of products and economic interdependence.

Volume Of Trade

The total quantity of shares or contracts traded for a specific financial instrument or within a market during a certain period.

Textile Products

Items made from fibers, yarns, or fabrics, typically involving processes like weaving, knitting, or felting.

Law Of Comparative Advantage

An economic theory stating that a country should specialize in producing and exporting goods for which it has a lower opportunity cost than its trading partners.