According to the Neoclassical Growth Theory,sustained Rising Material Living Standards

question 3

Multiple Choice

According to the Neoclassical growth theory,sustained rising material living standards can only be explained by

• A)growth in human capital.
• B)growth in physical capital.
• C)growth in the labour force.
• D)balanced growth of labour and capital.
• E)exogenous technological change.

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Definitions:

Fair Market Value

The price that property would sell for on the open market, between a willing buyer and a willing seller each having reasonable knowledge of all pertinent facts.

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A transfer of property or assets from one individual to another without the expectation of payment or anything in return.

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A business involved in modifying the visible features of an area of land, including flora, terrain shape, and structures.

Section 1231 Gain

relates to a gain from the sale or exchange of certain types of business property, which may be treated as either capital or ordinary gain for tax purposes.