In the neoclassical growth model, the rate of technological process is:
a. 2 percent.
b. 0 percent.
c. exogenous and not explained.
d. endogenous and explained by human capital accumulation.
Question 2
The government played a central role in directing the post-World War II economy, causing all of the following to occur except
(a) The reduction of entitlements, such as Social Security and unemployment benefits.
(b) Massive spending by the federal government, justified by the Cold War.
(c) Enormously expanded government infrastructure spending on things like highways, airports, education and research and development.
(d) There is no except; all of the above occurred.
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