Adopting Technology - Chapter 17, problem #1 (page 337)...

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Chapter 17, problem #1 (page 337) Adopting Technology By N.S. Chapter 17, problem #1 (page 337) Adopting Technology Narinder Schoeling Ashford University - Online Campus ECO - 203 Principles of Macroeconomics Instructor: Sam Palazzolo September 28, 2009
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Chapter 17, problem #1 (page 337) Adopting Technology By N.S. 2 Chapter 17, problem #1 (page 337) Adopting Technology One way that less developed countries catches up with the growth of the more developed countries is by adopting the technology of the developed countries. On average, however, developed countries are capital-rich and labor-short relative to the developing nations. Think of the kinds of technology that a typical developing country with a short supply of capital and a large marginally employed labor force would find when “shopping” for technology in a more developed country. As a hint, the Japanese have developed the field of robotics such as assembly line machines. Such machines are designed to replace expensive workers with capital (robots) in order to lower the overall cost of production. In
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Adopting Technology - Chapter 17, problem #1 (page 337)...

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