In the Endogenous Growth Model Presented in the Text,suppose That

question 13

Multiple Choice

In the endogenous growth model presented in the text,suppose that u represents the fraction of time spent working (as opposed to accumulating human capital) and b represents the efficiency of human capital accumulation. The growth rate of human capital equals

• A) u(1 - b) - 1.
• B) 1 + b(1 - u).
• C) (1 + b)(1 - u).
• D) b(1 - u) - 1.

---

Definitions:

Communitarian

One who holds a theory of society that emphasizes the interdependence of individuals within the context of particular communities. A communitarian view understands the citizen not in terms of his or her rights but rather his or her duties (“Ask not what your country can do for you, but what you can do for your country”). In the communitarian view, the self is sometimes understood as a function of society rather than an independent entity.

Libertarian

A political and philosophical stance emphasizing individual freedom and voluntary association with minimal state intervention.

Right

A claim or entitlement justified by law, custom, or morality.

Duty

What one ought to do, whether by virtue of his or her place or position in society (in Plato or Aristotle, for example) or by virtue of rational moral principles (as in Kant).