The Solow Growth Theory of the 1950s Assumed

question 97

Multiple Choice

The Solow growth theory of the 1950s assumed

• A) there was exogenous technological advance.
• B) there was unlimited technological advance.
• C) the steady state did not exist.
• D) only wealthy countries would converge to the steady state.
• E) wealthy countries would continue to experience sustained economic growth.

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Definitions:

Global Network

An interconnected system of networks that spans multiple geographic locations, enabling global communications and data exchange.

Utility

A service provided to the public, including electricity, gas, water, or sewage treatment, often considered essential for daily living.

E-Learning

The use of digital platforms and resources to deliver education and training programs online, allowing learners to access material remotely.

Distance Learning

Educational processes where teachers and students are physically separated by geographical distance, utilizing technology to interact and learn.