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Technological Progress Quiz

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1. What term refers to the improvements in the technical efficiency with which resources are combined in production?

2. Which type of technological progress does not alter the ratio of capital to labor in output?

3. What is the economic effect of technological progress on the long-term economic growth?

4. Which prominent theory argues that technological progress often comes in large jumps, known as technological revolutions?

5. What is a negative potential consequence of rapid technological progress?

6. Which form of technological progress increases the yield produced from a given amount of labor?

7. Investments in research and development typically lead to what kind of shift in a nation's production possibility frontier?

8. What does the Solow Residual measure?

9. What is a technological spillover?

10. In the context of the production function, what does A represent in the Cobb-Douglas function $Y = A K^{α} L^{1 - α}$?