In Economists' Models, Technological Advance Occurs in

question 261

Multiple Choice

In economists' models, technological advance occurs in

• A)the very long run.
• B)either the short run, long run, or very long run.
• C)manufacturing industries but not in service industries.
• D)pure competition but not in monopolistic competition, oligopoly, and pure monopoly.

---

Definitions:

Principal amount

The principal amount refers to the initial sum of money borrowed in a loan or invested, excluding any interest or additional fees.

Compounded quarterly

Refers to the calculation and addition of interest on a principal amount four times a year.

Annual scholarships

Financial awards given to students once a year to support their education, often based on merit, need, or specific criteria set by the scholarship provider.

Semi-annual dividend

A payment made to shareholders from a company's earnings, distributed twice a year.