why is technology important for economic growth? technology causes simultaneous increases in human capital and physical capital. technology means a nation's capital and other resources become more productive. technology transforms a linear growth rate into exponential growth. technology significantly increases the difference between a nation's nominal and real gdp. all of the above are true.

Prosperity depends on the more efficient production of more and better goods and services, which is made possible by technological advancement. However, the processes through which technology is created, adapted, and applied in manufacturing are intricate. The most significant element affecting the rate of economic growth is technological change. It is more significant than capital formation. It is the technological change which can bring about sustained increase in output per head of the population. As a result, it is the main driver of economic expansion. It causes businesspeople to change the way they conduct themselves.

To know more about technology visit:

brainly.com/question/3518037

#SPJ4