Endogenous (new) growth theories emphasize the importance of __________ in explaining growth.

Question

Quizplus · Accepted Answer

Endogenous growth theories focus on the role of capital (including human capital, knowledge, and innovation) and suggest that economies can experience constant returns to scale, meaning that the rate of growth can be sustained or increased through investments in these areas, unlike traditional models that emphasize diminishing returns.

Endogenous (New) Growth Theories Emphasize the Importance of __________ in Explaining