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Economic questions? Multiple choice?

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Economic questions? Multiple choice?

Postby archy » Wed Apr 18, 2012 10:06 pm

1.) All of the following measures help promote technological progress EXCEPT
investing in the education of workers.
increased wages for researchers.
reducing the scale of the market for a new product.
issuing a patent to a company that invents a new product.

2.)An example of capital deepening would be
permitting two workers to share one job.
moving a manufacturing plant overseas where labor costs are lower.
paying for an employee to take college courses.
laying off employees when a factory is modernized.

I can't figure these two out, thanks.
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Economic questions? Multiple choice?

Postby dana » Wed Apr 18, 2012 10:07 pm

1) reducing the scale of a market for a new product would be a disincentive for investing in technological progress

2) laying off employees when a factory is modernized means the ratio of capital to worker has increased, which is the technical definition of deepening. The goal as a strategy though, is not to reduce the workers, but increase the technology investment per worker to boost productivity
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Economic questions? Multiple choice?

Postby veto » Wed Apr 18, 2012 10:10 pm

what he said ^
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