What is one way to measure technological progress (connecxus)

Total growth minus the increase in capital cost and labor cost. Technological progress is the change in the output due to the advancement in technology that is used. Investment specific technological progress makes the production of goods easier.

Investment can be made in two aspects. One is in technology and automation and the other is in buildings and structures.

Mechanization and automation is an example of technological progress and this may lead to increased quantity of output and the labor cost is lessened.