« previous next »

Author Question: What are the basic arguments of the neoclassical growth theory? What will be an ideal ... (Read 76 times)

panfilo

  • Hero Member
  • *****
  • Posts: 572
on: Jun 29, 2018
What are the basic arguments of the neoclassical growth theory?
 
  What will be an ideal response?

Question 2

The principle of diminishing marginal utility means that as you eat fewer slices of pizza, your total utility from pizza will ________ and your marginal utility from each additional slice of pizza will ________.
 
  A) increase; decrease
  B) decrease; increase
  C) increase; increase
  D) decrease; decrease


kjohnson

  • Sr. Member
  • ****
  • Posts: 330
Reply #1 on: Jun 29, 2018
Answer to Question 1

The neoclassical growth theory explains economic growth as the result of technological change. Technological change leads to a level of saving and investment that makes capital per hour of labor grow. Growth, therefore, only ends if technological change ends. However the theory looks at technological change as being the result of chance and luck and so offers no explanation for how or why technological change occurs.

Answer to Question 2

B


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question

panfilo

  • Hero Member
  • *****
  • Posts: 572
Reply #2 on: Jun 29, 2018
Correct answers!


kjohnson

  • Sr. Member
  • ****
  • Posts: 330
Reply #3 on: Jun 29, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

Acute bronchitis is an inflammation of the breathing tubes (bronchi), which causes increased mucus production and other changes. It is usually caused by bacteria or viruses, can be serious in people who have pulmonary or cardiac diseases, and can lead to pneumonia.

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

Did you know?

The first-known contraceptive was crocodile dung, used in Egypt in 2000 BC. Condoms were also reportedly used, made of animal bladders or intestines.

An overview of the process of primary and secondary growth in a woody stem. An overview of the process of primary and secondary growth in a woody stem.
Exponential population growth. Exponential population growth.
Rate of Growth of Brain Areas Rate of Growth of Brain Areas
Basic Food Group Choices for a 1,200 Calorie Eating Plan Basic Food Group Choices for a 1,200 Calorie Eating Plan
Basic chemical structure and synthesis of catecholamines. The synthesis of norepinephrine occurs in ... Basic chemical structure and synthesis of catecholamines. The synthesis of norepinephrine occurs in ...
Four kinds of evidence supporting the theory that species evolve. Four kinds of evidence supporting the theory that species evolve.
Video: SNP Polymorphysim Microarray Chip - How to Test a Person's DNA

For a complete list of videos, visit our video library