In the Endogenous Growth Model

question 57

Multiple Choice

In the endogenous growth model

• A) growth ceases in the steady state.
• B) growth depends on the efficiency of human capital accumulation and the time devoted to it.
• C) countries with different initial human capital will converge in the steady state.
• D) growth depends on the government sector.
• E) growth depends on international trade.

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Definitions:

Needs

refer to the basic requirements or essentials necessary for an individual's well-being, including physical, emotional, and social aspects.

Drive-Reduction

A theory in psychology that posits that behavior is motivated by the need to reduce internal drives or tensions, such as hunger or thirst.

Internal Physical States

Internal Physical States refer to the physiological conditions or feelings within the body, such as hunger, pain, or fatigue, that can influence emotions and behavior.

Arousal

A state of alertness and mental and physical activation.