Technological progress is measured by
A)average labour productivity.
B)marginal product of labour.
C)total factor productivity.
D)marginal product of capital.

Question

Quizplus · Accepted Answer

Technological progress is primarily measured by total factor productivity, which is the ratio of total output to the inputs of capital and labor. This measure takes into account the contribution of technological advances in enhancing productive efficiency and economic growth. Average labor productivity and marginal product of labor or capital are indicators of the efficiency of labor or capital but do not capture the impact of technological progress.

Technological Progress Is Measured by