In the Endogenous Growth Model,more Time Spent Accumulating Human Capital

question 16

Multiple Choice

In the endogenous growth model,more time spent accumulating human capital implies

• A) less consumption in the near term, but a higher growth rate of consumption in the future.
• B) more consumption in the near term and a higher growth rate of consumption.
• C) less consumption in the near term and no change in the growth rate of consumption.
• D) more consumption in both the short and long-run.
• E) more consumption in the near term, but a lower growth rate of consumption in the future.

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Definitions:

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A phase in economic development where service industries and knowledge-based sectors become more significant than the manufacturing or agriculture industries.

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