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Policies for Technological Advance
Without better technology, increases in capital stock generated by investment rapidly run into diminishing returns. And without improvements in 'technologies' of government, organization and education, productivity stagnates.
Somewhat unexpectedly, economists have relatively little to say about what governs technological progress. Why did better technology raise living standards by 2% yearly a generation before though by less than 1% today? Why did technology progress by only 0.25% per year in the early 1800s? Improving literacy, research, and communications and development can help explain faster progress since than before industrial revolution and faster progress in twentieth than in the nineteenth century. Yet as significant a feature of recent economic history as the post-1973 productivity slowdown remains largely a mystery.
Q1.Define law of demand. Distinguish between individual demand and market demand for Hitachi air conditioners. List the determinants of demand for the same.
Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.
What are the different pricing practices?
Returns from Education Monetary benefits from education are called as returns. Such benefits accruing to an individual are called as private returns. The sum of all private re
Workers' Co-operative: Another form of privatisation is transfer ofownership of a loss-making concern to the workers. Mr. R. Ganpati, formerChairman of the Board of Industria
what is cob duglus production function?
What is Deflation? Deflation in economics refers to reduce in the general price level, i.e. the nominal cost of goods and services as well as wages reduce. As, it is an opposi
1. Calculate the required reserve ratio. 2. Assume that Pam wants to borrow money to pay for a new car from Sharpeland Bank. a. What is the maximum amount that Sharpeland Ban
Indifference curves present all possible combinations of market baskets that give the similar level of satisfaction to a person. Indifference Curves 1. Indifferen
what is comparative advantage
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