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In Recent Decades the Economy Has Experienced Dramatic Technological Improvement

question 6

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In recent decades the economy has experienced dramatic technological improvement in many types of capital equipment.All else remaining equal,this change has the effect of shifting the investment demand curve to the ________ and causing an excess ________ capital,and thus a ________ in the equilibrium interest rate.


Definitions:

Industrial Cities

Urban centers that have a high concentration of manufacturing and other industries, often characterized by significant infrastructure for production and transportation.

European Labor Activists

Individuals in Europe who advocate for the rights, working conditions, and interests of workers.

Industrial Revolution

A period of major industrialization that took place during the late 1700s and early 1800s, bringing significant technological, socioeconomic, and cultural changes.

Frances Wright

A Scottish-born lecturer, writer, freethinker, feminist, abolitionist, and social reformer, who became a controversial figure in the early 19th century America due to her radical views.

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