Modern Growth Theories Are More Optimistic Than Neoclassical Growth Theories

question 50

Multiple Choice

Modern growth theories are more optimistic than Neoclassical growth theories because the former emphasize the unlimited potential of

• A)modern capital.
• B)knowledge-driven technological change.
• C)more educated government policy making.
• D)modern labour.
• E)economic theory.

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Definitions:

User Cost

The cost associated with the use of a capital good, which includes the opportunity cost of not using the good in an alternative way and the depreciation cost.

Quantity Extracted

The amount of a resource or good that is removed or harvested from its source over a specific period.

Beginning of Year

The starting point of a calendar year or fiscal year used for accounting and other chronological purposes.

Extract

To remove or take out something, often using effort or force, particularly from a complex mixture or compound.