_______ fits the facts of today's world more closely than other theories.

Question

Quizplus · Accepted Answer

New growth theory emphasizes the role of knowledge, human capital, and innovation in driving economic growth, which aligns with the current realities and trends in the global economy. It recognizes the importance of technological progress and the ability of the market to incentivize innovation and investment in new ideas. Classical growth theory and Malthusian theory are outdated, and neoclassical growth theory has limitations in explaining long-term growth. Doomsday growth theory is not a recognized economic theory.

_______ Fits the Facts of Today's World More Closely Than