Neoclassical growth theory treats technology as an _________________ variable,and new growth theory treats technology as an ______________.
A) exogenous; endogenous variable
B) endogenous; exogenous variable
C) endogenous; endogenous variable,as well
D) exogenous; exogenous variable,as well

Question

Quizplus · Accepted Answer

Neoclassical growth theory assumes that technology is exogenous and determined outside of the economic system, while new growth theory argues that technology is endogenous and can be influenced by investment in research and development, education, and other factors within the economic system.

Neoclassical Growth Theory Treats Technology as an _________________ Variable,and New