In the Solow Model, Technological Progress Is Assumed to Be

question 1

Multiple Choice

In the Solow model, technological progress is assumed to be:

• A) zero.
• B) endogenous.
• C) exogenous.
• D) continually increasing.

---

Definitions:

Adequate Supply

Refers to a quantity of goods or materials that is sufficient to meet demand or requirements.

Non-necessary Item

A product or service considered not essential for basic living and daily function.

Coat

An outer garment worn outdoors, providing protection from the weather or for fashion purposes; not related to specific legal or financial terminology.

Agent of Necessity

A person who is appointed to act on behalf of another in situations of urgent necessity, without prior authorization from the principal.