Question

which of the following are true of technology as a determinant of economic growth? check all that apply.technological advances are not necessary for long-term, sustained economic growth.technological advances shift the production possibilities curve to the inward.technological advances increase the productivity of other resources such as labor and capital.technological advances may be in the form of either a new capital good or a new way of producing goods.

Answer 1

Technology can increase productivity, take different forms, and is not always necessary for economic growth.

Step-by-step explanation:

Three statements are true of technology as a determinant of economic growth:

1. Technological advances increase the productivity of other resources such as labor and capital. This means that technology can help improve efficiency and output in an economy.
2. Technological advances may be in the form of either a new capital good or a new way of producing goods. Examples include the invention of the steam engine or the development of computer technology.
3. Technological advances are not necessary for long-term, sustained economic growth. While technology can greatly contribute to economic growth, other factors such as human capital and physical capital also play important roles.