Contrary to the original Solow model, many economists today claim that technological progress may be _____ to long-term economic growth.

Question

Quizplus · Accepted Answer

The term "endogenous" refers to factors that are influenced by the model itself, rather than being exogenously determined. In the modern understanding of the Solow model, technological progress is often considered an endogenous factor, meaning it can be influenced by policy choices and investment decisions. This view holds that investing in research and development or creating favorable conditions for innovation can lead to sustained economic growth. Therefore, the correct option is B) endogenous.

Contrary to the Original Solow Model, Many Economists Today Claim