When calculating the factors which have led to economic growth over the last century, technological change is calculated as:
A. the rate of change of the capital-output ratio.
B. the increased productivity of capital.
C. a residual, inferred as the leftover growth after accounting for the contributions of other factors.
D. the ratio of the marginal products of capital and labor.
E. the rate of growth of the output to land ratio.
Ans: C. a residual, inferred as the leftover growth after accounting for the contributions of other factors.
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