The Key Difference Between the Neoclassical Growth Theory and the New

question 91

Multiple Choice

The key difference between the neoclassical growth theory and the new growth theory is that

• A)the pace of technological advances are caused by chance in new growth theory.
• B)knowledge is capital that is not subject to diminishing returns under new growth theory.
• C)labour productivity grows indefinitely in neoclassical growth theory.
• D)capital is subject to diminishing returns under new growth theory.
• E)increases in population drive workers' incomes back down to the subsistence level in neoclassical growth theory.

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Definitions:

Team's Familiarity

The degree to which team members are acquainted with or have experience in the tasks, processes, or technologies involved in a project.

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A measurement used to evaluate the complexity and risk of projects based on the Darnall-Preston Complexity Index.

Technology Newness

The extent to which technology involved in a project or product is newly developed or previously unused within a particular context or industry.

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The discipline of initiating, planning, executing, controlling, and closing the work of a team to achieve specific goals.