Principles of Macroeconomics (11th Edition)
11th Edition
ISBN: 9780133023671
Author: Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher: PEARSON
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Question
Chapter 17, Problem 1P
To determine
Role of new technology in a developing country.
Expert Solution & Answer
Explanation of Solution
Majority of developing countries are labor intensive. Therefore, to achieve a rapid
Economics Concept Introduction
Concept introduction:
Labor intensive production: Labor intensive means a proportion of labor is used for the production of goods, and services are greater than proportion of capital used for the production, which means that labor is substituted for the capital.
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Chapter 17 Solutions
Principles of Macroeconomics (11th Edition)
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