According to the neoclassical model of economic growth, which of the following is true?
A) Higher savings will lead to higher investment, higher capital per worker and higher growth in the long run.
B) One of the reasons why economic growth slows is because output needs to be used for
C) If the labour force is growing at 10 per cent, then capital has to grow by more than 10 per cent to keep capital per worker constant.
D) As long as more capital is added per worker, economic growth will keep increasing even in
Correct Answer:
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Q15: Which of the following will lead to
Q16: Economic growth will _.
A) shift the long-run
Q17: If the number of workers in the
Q18: Thomas Malthus' prediction that population would outgrow
Q19: Which of the following shifts the long-run
Q21: Which of the following changes in the
Q22: Which of the following policies would provide
Q23: The neoclassical model of growth is an
Q24: An economy can experience increasing growth rates
Q25: Which of the following is a result
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