Choose the Statements Concerning Neoclassical Growth Theory Which Are True

question 35

Multiple Choice

Choose the statements concerning neoclassical growth theory which are true. 1. Neoclassical growth theory was developed in the late 19th century.
2. The rate of technological change influences the economic growth rate but economic growth does not influence the pace of technological change.
3. Economic growth will stop if technology stops advancing.
4. Technological change results from the choices people make in the pursuit of profit.

• A)Statements 1 and 4 are correct.
• B)Statements 3 and 4 are correct.
• C)Statements 2 and 3 are correct.
• D)Statements 1 and 3 are correct.
• E)Statements 2 and 4 are correct.

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Definitions:

Thawing

The process of something frozen, such as ice or snow, becoming liquid or soft as it warms.

Refreezing

The final stage in the process of change, where new behaviors are solidified and integrated into normal operations.

Change Competency

The ability of an organization or individual to effectively adapt to new conditions or changes in the environment.

Creative Cabinet

An informal term that could refer to a group or team tasked with generating innovative ideas or solutions within an organization.