differentiate between a) Harrod neutrality and Hicks neutrality
Exogenous technical progress is called neutral if it does not alter the functional distribution of national income. The following types of neutral technical progress. Hicks neutrality is achieved by the fact that it does not change the investment nor labor nor value limit inputs. Harrod neutrality is provided by the fact that the development of technical progress every capital value of average performance meets the constant marginal productivity.
One of the most common cliches ever used is that “you learn from your mistakes.” This rings true of almost…
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