Assuming That Technological Progress Increases the Efficiency of Labor at a Constant

question 21

Multiple Choice

Assuming that technological progress increases the efficiency of labor at a constant rate is called:

• A) endogenous technological progress.
• B) the efficiency-wage model of economic growth.
• C) labor-augmenting technological progress.
• D) the Golden Rule model of economic growth.

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Definitions:

Minority Groups

Demographic groups within a society that are smaller in number and often experience differential treatment or discrimination because of cultural, ethnic, or other differences.

Racialization

A process whereby some social category, such as a social class or nationality, is assigned what are perceived to be race characteristics.

Racial Formation

Process by which groups come to be defined as a “race” through social institutions such as the law and the schools.

Defining Race

The act of categorizing humans based on physical and genetic traits, often constructed socially and culturally.