Which of the following is a criticism of the neoclassical model of economic growth?
A) The model assumes that there will be increasing returns to capital, which is incorrect.
B) In the real world, convergence between rich and poor countries has not been observed.
C) The model incorrectly assumes that growth affects technology and that technology also affects growth.
D) The assumption that increasing capital per worker will lead to economic growth is
Correct Answer:
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Q32: Endogenous growth theory considers models in which:
A)
Q33: Which of the following is ignored by
Q34: How do strong trade unions and legislation
Q35: Endogenous growth models advocate:
A) labour force growth
Q36: In the neoclassical model of economic growth,
Q38: How does an endogenous growth model differ
Q39: The UK has many educated managers, but
Q40: Which of the following is an example
Q41: Which of the following is a disadvantage
Q42: Which of the following is an example
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