Economics · Economic Growth Models
According to Harrod's growth model, a technical change is considered neutral if:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1MPK/MPL equals the wage rate-interest rate ratio
- 2it is strictly labour-saving only
- 3at a constant rate of interest/profit, the capital-output ratio also remains constant✓
- 4MPK/MPL equals the capital-labour ratio
Correct answer
at a constant rate of interest/profit, the capital-output ratio also remains constant
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