One Important Assumption of the Neoclassical Growth Model Is That

question 16

Multiple Choice

One important assumption of the Neoclassical growth model is that, with a given state of technology,

• A)increases in the use of a single factor result in constant returns.
• B)increases in the use of single factor bring diminishing returns.
• C)the return from successive units of a single factor increases over time.
• D)increases in GDP are possible only if all factors are increased at an equal rate.
• E)increases in the use of a single factor bring increasing returns.

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Government Services

Services provided by the government to meet the needs of its citizens, including education, healthcare, transportation, and public safety.

Local Level

Pertaining to governance, decision-making, or implementation that occurs at the most immediate, community-based part of society, such as cities or towns.

Spoils System

A political practice where a political party, after winning an election, gives government jobs to its supporters as a reward and as an incentive to keep working for the party.

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The process of assigning individuals to positions within governmental organizations or agencies, often based on qualifications and sometimes political affiliations.