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Technological progress |
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Technological progressA technological change that increases output for any given input.Similar MatchesTechnological differenceTechnological differenceA difference in production functions, usually for the same industry compared between two countries, such that one country has higher output for any given input than the other. Technological changeTechnological changeA change in a production function that alters the relationship between inputs and outputs. Normally it is understood to be an improvement in technology, or technological progress, and it is of interest in international economics for its implications for trade and economic welfare. |
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