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:

Mutual Motivation

A concept where individuals or groups encourage each other to achieve goals, fostering a collaborative and supportive environment.

Coordinate Confrontation

A strategic approach to resolve conflict that involves organizing and managing a situation or dispute in a systematic way to find a solution.

Openness

A personality trait that involves the willingness to try new things, be open to new experiences, and entertain new ideas.

Distributive Negotiations

A negotiation strategy where the parties involved view the situation as a fixed pie, where any gain by one side is a loss to the other.