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Technological Innovation Decreases the Amount of Output Achievable from a Given

question 34

True/False

Technological innovation decreases the amount of output achievable from a given quantity of labor and capital.


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Ph.D.

A Doctor of Philosophy degree, a type of doctoral degree awarded by universities, representing high-level achievement in research and academic study.

Patents

A legal authorization granted to an inventor or assignee, providing exclusive rights to produce, use, or sell an invention for a certain period of time.

Ethnocentrism

The act of judging another culture solely by the values and standards of one's own culture.

Culture

The cumulative deposit of knowledge, experience, beliefs, values, attitudes, meanings, hierarchies, religion, notions of time, roles, spatial relations, concepts of the universe, and material objects acquired by a group of people in the course of generations through individual and group striving.

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