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:

General Burgoyne's

Refers to British General John Burgoyne, who is best known for his role in the American Revolutionary War, particularly the 1777 Saratoga campaign which ended in a decisive defeat for his forces.

Battle Of Saratoga

A pivotal series of engagements in 1777 during the American Revolutionary War that resulted in a significant American victory over British forces, influencing international support for the American cause.

Surrendered

The act of giving up or yielding to the control or possession of another party, often in a military context.

Iroquois Confederacy

A historical alliance of Native American tribes in Northeast North America, known for its sophisticated political system and influence on democratic principles.