A) labour-augmenting technological progress
B) capital-augmenting technological progress
C) capital-reducing technological progress
D) None of the above
Correct Answer: B
Solution :
Exp. [b] Capital augmenting technological progress results in more productive use of existing capital goods. The best example for capital augmentation technology is the substitution of steel for wooden ploughs in agricultural production.You need to login to perform this action.
You will be redirected in
3 sec