Economics · Growth Models
A key limitation of the basic Solow-Swan model is its assumption that:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Capital and labor are the only factors of production
- 2Technological progress is exogenous✓
- 3Population growth is exogenous
- 4Savings rates are constant
Correct answer
Technological progress is exogenous
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