Economics · Growth Models
Choose the INCORRECT statement regarding the Warranted Growth Rate (Gw) in Harrod's growth model:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It refers to the growth rate where producers are satisfied with their investment decisions.
- 2It is interpreted as the rate of income growth required for full utilization of a growing stock of capital.
- 3It is the growth rate required to maintain full employment of the labor force.✓
- 4Warranted growth rate is also known as full-capacity growth rate.
Correct answer
It is the growth rate required to maintain full employment of the labor force.
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