The Neoclassical Growth Model Assumes That with a Given State

question 34

Multiple Choice

The Neoclassical growth model assumes that with a given state of technology,

• A)increases in the use of a single factor bring increasing returns.
• B)increases in the use of a single factor result in constant returns.
• C)increases in GDP are possible only if all factors are increased at an equal rate.
• D)growth in GDP happens only if the labour force grows more quickly than the amount of physical capital.
• E)the standard of living will decrease if the labour force grows more quickly than the amount of physical capital.

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