What do you understand by technical progress? What is the relationship between technical progress and growth of total factor productivity? Discuss the various conceptions of neutral technical progress as put forward by hicks, harrod and solow?
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Technological progress refers to the discovery of new and improved methods of producing goods. Changes in technology lead to an increase in productivity of labor, capital. ... Examples, and other factors of production. Technology refers to the process through which inputs are transformed into outputs.....
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hola mate
hola mateheres ur answer
Kaldor's technical progress function
Kaldor's technical progress functionThe larger the rate of growth of capital/input per worker, the larger the rate of growth of output per worker, of labour productivity. The rate of growth of labor productivity is thus explained by the rate of growth of capital intensity.
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