Question: Explain the difference between labor-augmenting technological change and neutral technological change. Explain into which category of technological change each of the following examples falls: (a)

Explain the difference between labor-augmenting technological change and neutral technological change. Explain into which category of technological change each of the following examples falls:
(a) Development of a new microprocessor that allows for faster computers that enable architects to design buildings in less time.
(b) A new operating system that enables programmers to use their existing computers to write and test programs in less time.

Step by Step Solution

★★★★★

3.32 Rating (176 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

a Laboraugmenting technological change states that improvements in ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

682-B-E-M-E (4720).docx

120 KBs Word File

Students Have Also Explored These Related Economics Questions!

Explain the difference between 'research' and 'development'.

Explain the difference between design FMEA and process FMEA.

Explain the difference between design and operational decisions.

Page 1 of 20 Print Publication Date: Jul 2017 Subject: Law, IT and Communications Law Online Publication Date: Dec 2016 DOI: 10.1093/oxfordhb/9780199680832.013.45 Gregory N. Mandel The Oxford...

3. A cost-minimizing firm has a production function of the form: 1 2 1 3 3 3 q = F(A,L,K) = ALK Where L is labor, K is capital, and A is what macroeconomists call total factor productivity or, for...

Cite as: 573 U. S. ____ (2014) 1 Opinion of the Court NOTICE: This opinion is subject to formal revision before publication in the preliminary print of the United States Reports. Readers are...

1. Describe what each assumption means to you and provide examples of each assumption. a. Development is multidimensional Aspects of our lives, such as intellectual, physical, and social, change in...

Page 1 1 of 106 DOCUMENTS DAVID LEON RILEY, Petitioner (No. 13-132) v. CALIFORNIA, UNITED STATES, Petitioner (No. 13-212) v. BRIMA WURIE 13-132, 13-212 SUPREME COURT OF THE UNITED STATES 134 S. Ct....

In a one-page paper, answer the following: What is the function of venture capital in the United States and why is it important and/or needed? Describe the seven constants that apply across any...

ABSTRACT Experiences of applying SPC techniques to software development processes are described. Several real examples to apply SPC in Hitachi Software are given. Measures, control charts, and...

Write short note on risk factors for atherosclerosis, clinical presentations and treatment. Use the idea of reaction to-injury hypothesis. 2. Q. Write short note on aneurysm and list the causes of...

The manager of a phone kiosk in the Valley Mall recently collected data on a sample of 50 customers who purchased a cell phone and a monthly call plan. The data she recorded are in the data file...

Any changes to a firm's projected future cash flows that are caused by adding a new project are referred to as: 1 1 Multiple Choice 0 . 5 points 8 0 2 - 1 9 : 0 9 eroded cash flows.Incremental cash...

Maple Gold Corp. (MGC) is a precious metal exploration and development company. MGC was established in 2016 by a management team and board of directors that has a successful history of creating...

How would each of the following, ceteris paribus, affect the college wage premium over a long period of time? a. Government scholarships are sharply curtailed. b. Weird solar radiation renders all...

Each of the following observations, ceteris paribus, implies something about a particular labor market. For each one, (1) identify the relevant labor market; (2) state whether you expect the wage...

The following gives employment and daily output information for Your Mama, a perfectly competitive manufacturer of computer motherboards. Number of Workers Total Output 10 ..............80 11...

Question 8 [6 points] Calculate the payment amounts when the mortgages below are renewed for a second term. Assume interest rates are fixed and compounded semi-annually, and that the amortization...

write a function that determines the power transmitted to the load (p), the ratio of short circuit current (io) and the ratio of voltage across the load (vo) given by, p= r/(1+r^2) io= 1/(1+r) vo=...

Intro It is December 2021. You work as a financial analyst for Merck & Co. and are tasked with the due diligence on the proposed acquisition of a biotech startup. You estimated the following cash...