According to Neoclassical Growth Theory, Increased Real GDP Per Person

question 244

Multiple Choice

According to neoclassical growth theory, increased real GDP per person from economic growth will

• A) last indefinitely regardless of any other factor.
• B) last because there is no link between growth and population.
• C) not last because the population will increase.
• D) last as long as technological change continues.

Understand the concept of core capabilities and their components within an organization.

Recognize the importance of environmental scanning in the strategic planning process.

Appreciate the strategic intent and alignment of organizational activities towards strategic goals.

Understand the role of human resource management in strategy implementation, including SWOT analysis and workforce alignment.

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Definitions:

Opportunity Cost

The foregone benefit that would have been derived from an option not chosen.

Unlimited Resources

A hypothetical scenario in which there is an infinite supply of resources, making scarcity and allocation concerns non-existent.

Favorite Tv Show

The television program a person enjoys the most or has a strong preference for over others.

Opportunity Cost

Forgoing the possibility of benefits from other options by selecting one specific choice.