Traditionally, Economists Regarded Improvements in Technology as

question 237

Multiple Choice

Traditionally, economists regarded improvements in technology as

• A) the most important factor that helped explain economic growth, and basically the only factor that would cause economic growth.
• B) an outside factor that helped explain economic growth.
• C) an important factor in explaining economic growth that was due to economic forces that also could easily be explained.
• D) unrelated to economic growth in any systematic way.

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Definitions:

Rejection

In contract law, the refusal to accept an offer or a breach by the other party, or in the context of goods, refusal because they do not meet specified terms.

Wood Gun Cabinet

A wood gun cabinet is a type of furniture designed for the storage of firearms, usually made from wood and often featuring glass panels for display.

Contract Formed

The point at which parties agree to terms, thereby creating a legally binding agreement.

Reasonably Believing

Acting based on a belief that is supported by facts or circumstances that would lead a rational person to hold such belief, particularly in legal contexts.