A Recent Article States That

question 175

Multiple Choice

A recent article states that "...gains from two centuries of rapid technological innovation are largely exhausted, and new discoveries lack the same revolutionary quality....{Further}, 80 percent of the growth between 1950 and 1993 came from the new application of old ideas, and these old ideas are now mostly wrung dry."
(The Economist, 03/03/2011)
-If this quote is TRUE, what would the neoclassical growth theory predict?

• A) Economic growth stops because most technological advances have already been made.
• B) Economic growth is temporary regardless of technological change and GDP per person returns to subsistence levels.
• C) Economic growth will persist indefinitely because technological change will accelerate again as firms seek profits.
• D) Economic growth will accelerate because these technological changes are permanent.

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Definitions:

Messages

Units of communication intended to convey information, ideas, or feelings from one entity to another.

Developing Concepts

The process of creating, refining, and articulating new ideas, theories, or principles in a field of study.

Open Coding

A preliminary step in qualitative data analysis where data are categorized based on properties and dimensions that emerge from the data itself.

Analytic Coding

The process of categorizing data based on themes, concepts, or variables, often used in qualitative research.