Discuss the impact of technology in economy?
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Technology spending, gross margins and economic growth have a strong relationship when measured by productivity and GDP. ... Soon afterward, GDP falls dramatically, and, within a few years, labor productivity across the economy falls, as technological innovation is an important component of productivity.
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Technology has deeply affected the global economy and its usage has been like to marketplace transformation, improved living standards and more robust international trade. Technological advances have significantly improved operations and lowered the cost of doing business.
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