The Key Difference Between the Neoclassical Growth Theory and the New

question 11

Multiple Choice

The key difference between the neoclassical growth theory and the new growth theory is that

• A)capital is not subject to diminishing returns under new growth theory.
• B)capital is subject to diminishing returns under new growth theory.
• C)increases in population drive workers' incomes back down to the subsistence level in neoclassical growth theory.
• D)the pace of technological advances are caused by chance in new growth theory.
• E)labour productivity grows indefinitely in neoclassical growth theory.

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