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
Economic Growth & DevelopmentTechnological ProgressSteel ploughswooden ploughsagricultural productiontechnological progresscapital-augmentinglabour-augmentingcapital-reducing