Choose the statements concerning neoclassical growth theory which are true. 1. Neoclassical growth theory was developed in the late 19th century.
2. The rate of technological change influences the economic growth rate but economic growth does not influence the pace of technological change.
3. Economic growth will stop if technology stops advancing.
4. Technological change results from the choices people make in the pursuit of profit.
A) Statements 1 and 4 are correct.
B) Statements 3 and 4 are correct.
C) Statements 2 and 3 are correct.
D) Statements 1 and 3 are correct.
E) Statements 2 and 4 are correct.
Correct Answer:
Verified
Q88: Which theory of economic growth concludes that
Q89: In the classical growth theory, economic growth
Q90: In neoclassical growth theory, if the rate
Q91: Growth eventually stops in neoclassical growth theory
Q92: An assumption of the new growth theory
Q93: The key difference between the neoclassical growth
Q94: In the neoclassical growth theory, economic growth
Q96: According to Thomas Robert Malthus,
A)labour productivity increases
Q97: Knowledge capital is different from physical capital
Q98: Which of the following is a suggestion
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents