An Assumption of the New Growth Theory Is That

question 1

Multiple Choice

An assumption of the new growth theory is that

• A)people earn a subsistence real wage in the long run.
• B)all technological advances are the result of chance.
• C)the marginal product of all types of capital increases as more capital is accumulated.
• D)the growth rate of labour productivity depends on people's ability to innovate.
• E)technological advances encourage international trade.

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Definitions:

Mobile Phone Store

A retail store specializing in selling mobile phones and related accessories.

Marginal Probability Distribution

The probability distribution for a subset of variables within a multi-variable distribution, ignoring the presence or effects of the other variables.

Mobile Phone Store

It is a retail establishment that specializes in selling mobile phones and related accessories and services.

Mobile Phone Store

A store focused on selling mobile phones and their corresponding accessories.