Economics · Economic Growth - Embodied Technical Progress
The main feature of embodied technical progress is that:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It represents exogenous technical progress that is entirely independent of capital accumulation.
- 2It refers to technical improvements that can only be introduced into the productive system through new capital investment.✓
- 3It reflects a lop-sided productivity increase confined strictly to the agricultural sector.
- 4It is completely dependent on direct financial subsidies from the government.
Correct answer
It refers to technical improvements that can only be introduced into the productive system through new capital investment.
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