According to the new growth theory
A) knowledge is not subject to diminishing returns.
B) the concept of a labor market is not necessary.
C) the rate of technological progress is determined by chance.
D) the labor demand curve does not shift rightward over time.
Correct Answer:
Verified
Q331: New growth theory proposes that real GDP
Q332: Because of the choices people make in
Q333: The notion that technological change is not
Q334: New growth theory
A) asserts that population growth
Q335: New growth theory assumes that
A) knowledge does
Q337: An important foundation of the new growth
Q338: According to the new growth theory, competition
A)
Q339: A key feature of the new growth
Q340: Neoclassical growth theory predicts that
A) capital is
Q341: One policy that would increase the saving
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