-In the figure above, productivity has increased.In which growth model can this type of change occur?
i. Classical growth model
ii. Neoclassical growth model
iii. New growth model

Question

Quizplus · Accepted Answer

All three growth models—classical, neoclassical, and new growth—can account for increases in productivity, though they explain it through different mechanisms. The classical model focuses on capital accumulation, the neoclassical model emphasizes technological progress, and the new growth model highlights innovation and knowledge.

-In the Figure Above, Productivity Has Increased