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When the Learning-By-Doing Process Is Specified as εE = BY

Question 30

Multiple Choice

When the learning-by-doing process is specified as εE = BY, then when we incorporate this technological progress into a standard neoclassical model with labor augmenting technological progress, the growth of technology ends up as a function of:


A) the size of the total labor force.
B) the level of investment.
C) the depreciation rate.
D) All of the above.
E) None of the above.

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