The substitution of steel for wooden ploughs in agricultural production is an example of:

Question

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Capital-reducing technological progress

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Labour-augmenting technological progress

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Capital-augmenting technological progress

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None of the above

1.	The substitution of steel for wooden ploughs in agricultural production is an example of:
A.	Labour-augmenting technological progress
B.	Capital-augmenting technological progress
C.	Capital-reducing technological progress
D.	None of the above
Answer» C. Capital-reducing technological progress

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