Which of the Following Statements Best Represents the Impact of Technological

question 101

Multiple Choice

Which of the following statements best represents the impact of technological progress in the Solow growth model?

• A) There must be increases in the quality and quantity of consumption for long-term growth to be achieved.
• B) Technological progress is necessary to achieve the steady-state level of consumption per worker.
• C) There must be increases in the quality and quantity of capital for long-term growth to be achieved.
• D) Technological progress allows for an increase in the saving rate.

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Definitions:

Industrial Workers

Individuals employed in sectors involving manufacturing, construction, and other forms of physical labor or production, often engaged in producing goods.

Craft Unionism

A labor movement approach focusing on organizing workers from the same craft or trade into a single union to negotiate for better conditions and wages.

Labor Party

A political party that represents the interests of the working class and supports labor unions, advocating for policies beneficial to workers and trade unions.

AFL Unions

Organizations affiliated with the American Federation of Labor, representing a coalition of trade unions.