New growth theory asserts that i. human capital grows because of choices.
Ii) discoveries result from choices.
Iii) competition brings profits.

Question

Quizplus · Accepted Answer

New growth theory asserts that human capital, which is the knowledge, skills, and abilities that people acquire, grows as a result of choices they make, such as pursuing education, training, and skill-building activities. Discoveries also result from choices, such as investing in research and development and exploring new ideas. Additionally, competition can bring profits, but only if firms are able to innovate and improve their products, processes, or technologies, which requires investing in human capital and making strategic choices. Therefore, both i and ii are correct, and iii is not explicitly stated as a key element of new growth theory.

New Growth Theory Asserts That I