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31 October, 06:29

The assumption that technological progress increases the efficiency of labor is called:

a. the efficiency-wage model of economic growth.

b. labor-augmenting technological progress.

c. endogenous technological progress.

d. the Golden Rule model of economic growth. PreviousNext

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Answers (1)
  1. 31 October, 07:37
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    B - Labor-Augmenting Technological Progress

    Explanation:

    Labour-augmenting technical change process makes workers more productive and enhance efficiency.
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