In the Neoclassical Growth Model, If Productivity Does Not Grow

question 21

Multiple Choice

In the neoclassical growth model, if productivity does not grow,

• A) output per worker will be constant.
• B) output will grow at the same rate as the population growth.
• C) consumption will be constant.
• D) both A and B are correct.

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Definitions:

Asch's Conformity Experiment

A social psychology experiment that demonstrated the power of conformity in groups, where individuals often agreed with incorrect answers to fit in.

Agreement

A mutual understanding or arrangement between two or more parties, often formalized by a contract or other legal document.

Majority

The greater part or number; the number greater than half the total.

Prejudice

Preconceived opinion or bias against an individual or group without sufficient knowledge, thought, or reason.