In New Growth Theory,growth in Real GDP Per Person Occurs

question 54

Multiple Choice

In new growth theory,growth in real GDP per person occurs because i.human capital grows indefinitely.
Ii) technology advances as a result of the choices individuals make.
Iii) profit incentives encourage technological change.

• A)i only
• B)ii only
• C)iii only
• D)i and iii
• E)i,ii and iii

---

Definitions:

Histogram

A graphical representation of data that groups numbers into ranges, representing the frequency of data within each range with bars.

Line Chart

A kind of graph that presents data as a sequence of points linked by linear segments, commonly utilized to depict temporal trends.

Histogram

A graphical representation of data using bars to show the frequency of numerical data intervals, emphasizing the distribution of data.

Time-series Data

A sequence of data points collected or recorded at successive time intervals.