According to New Growth Theory

question 192

Multiple Choice

According to new growth theory,

• A)technological change is influenced by economic incentives.
• B)centrally-planned economies are the most efficient.
• C)growth in real GDP per capita occurs only if there are increasing returns.
• D)economic growth is determined by forces outside the control of the market system.
• E)capital accumulation will accelerate GDP growth.

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Definitions:

Strategic Objectives

Specific, measurable goals that an organization aims to achieve to realize its strategic vision and mission.

System Inputs

The necessary resources, data, or materials required by a system to produce outputs.

TQM

Total Quality Management, a management approach focused on continuous improvement of all organizational processes, products, and services.

Tally Defects

The process of counting and recording flaws or errors in a product or process to analyze and improve quality control.