Question
Many economists argue that an improvement in technology can increase wage, real interest rate and employment with a competitive labour market and credit market. Explain
Many economists argue that an improvement in technology can increase wage, real interest rate and employment with a competitive labour market and credit market. Explain this argument with the help of appropriate graphs. What are the two key assumptions in your explanation?
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Managerial Economics and Strategy
Authors: Jeffrey M. Perloff, James A. Brander
2nd edition
134167879, 134167872, 9780134168319 , 978-0134167879
