According to the neoclassical growth model, per capita income of a country cannot be raised by...
Question:
According to the neoclassical growth model, per capita income of a country cannot be raised by (other things equal):
a) increasing in the input of capital
b) increasing total factor productivity
c) increasing the number of workers
d) increasing saving rate
e) none of the above
Neoclassical Growth Model:
The neoclassical growth model identifies the steady economic growth in the country. It has a significant role in the level of production in the industries. The model is also known as the Solow-Swan model of growth.
Answer and Explanation: 1
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View this answerThe correct answer is e). none of the above
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Neoclassical Economics: Definition, Theory & Model
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Chapter 4 / Lesson 7
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Learn the definition of neoclassical economics and see the neoclassical model. Study the neoclassical economic theory and compare it to classical economics.
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