According to New Growth Theory

question 122

Multiple Choice

According to new growth theory

• A)technological change is influenced by economic incentives.
• B)centrally-planned economies are the most efficient.
• C)growth in real GDP per capita occurs only if there are increasing returns.
• D)economic growth is determined by forces outside the control of the market system.

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Definitions:

Two-way Communications

A process of communication where information flows back and forth between the sender and receiver, allowing for feedback and interaction.

One-way Communications

A process where information flows from the sender to the receiver without expecting or allowing any response or feedback.

Group Communications

The processes and dynamics through which members of a group exchange information, ideas, and feelings to achieve a common goal.

Interactive Conversation

A dynamic exchange of ideas and information between individuals that is characterized by active participation and engagement from all parties involved.