Which one of the following statements about growth theories is correct?

Question

Quizplus · Accepted Answer

In the new growth theory, knowledge is considered a non-rivalrous good and is subject to increasing returns to scale, meaning that more knowledge leads to even higher levels of economic growth. This is different from the neoclassical growth theory, where technological progress is viewed as the result of increases in capital per person. Classical growth theory did not differentiate between different factors of production or consider the role of technology in economic growth. Finally, physical resources are not considered unlimited in any of the growth theories.

Which One of the Following Statements About Growth Theories Is