An Assumption of Neoclassical Growth Theory Is That

question 149

Multiple Choice

An assumption of neoclassical growth theory is that

• A) technological change is random.
• B) technological change can be influenced by savings.
• C) more growth encourages more technological change.
• D) None of the above answers is correct.

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Definitions:

Autotrophs

Organisms that produce their own food from inorganic substances using light or chemical energy, such as plants and some bacteria.

Pigment

Substances that give color to living organisms, such as chlorophyll in plants or melanin in human skin.

Light

Light is electromagnetic radiation within a portion of the electromagnetic spectrum that can be perceived by the human eye, responsible for the sense of sight.

Chemical Energy

Energy stored in the bonds of chemical compounds and released in a chemical reaction, often producing heat as a by-product.