In new growth theory,growth in real GDP per person occurs because i.human capital grows indefinitely.
Ii)technology advances as a result of the choices individuals make.
Iii)profit incentives encourage technological change.

Question

Quizplus · Accepted Answer

New growth theory suggests that growth in real GDP per person is a result of multiple factors such as continuous growth in human capital (i), technological advancements driven by individual choices (ii), and profit incentives that encourage investment in research and development leading to technological change (iii). Therefore, all three options are correct, and the best answer is E.

In New Growth Theory,growth in Real GDP Per Person Occurs