Asked by Adrian Batista on Jun 10, 2024
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When technological advances are of the capital-using kind, it is possible for an economy to increase its productivity without any net investment in capital goods.
Technological Advances
Innovations and improvements in technology that enhance productivity, efficiency, or quality.
Capital-Using
Pertaining to processes or technologies that involve an increase in the amount of capital used per unit of output.
Net Investment
The total amount spent on new capital assets minus the depreciation of existing assets, reflecting the actual increase in an entity's capital stock.
- Investigate the impact of technological progress and the availability of resources on the expansion of the economy.
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Learning Objectives
- Investigate the impact of technological progress and the availability of resources on the expansion of the economy.
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