According to New Growth Theory

question 182

Multiple Choice

According to new growth theory

• A)physical capital is nonexcludable.
• B)knowledge capital is excludable.
• C)knowledge capital is subject to increasing returns.
• D)knowledge capital is rival and excludable.

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Definitions:

Conscious Reasoning

The deliberate use of logic and rational thinking in making decisions or solving problems, typically involving awareness and reflective thought.

Intuition

The skill to comprehend or perceive something right away, bypassing the process of conscious deliberation.

Problem

is a situation, question, or issue that is difficult to understand or deal with, often requiring analysis and solution.

Opportunity

A situation or condition that places individuals in a favorable position to exploit resources or capabilities for achieving specific goals or improvement.