Economics · Theories of Economic Growth
Consider the following conclusions regarding Endogenous Growth Models (such as Romer, Lucas): 1. Technological change results from intentional, profit-motivated R&D activities. 2. Knowledge is a non-rival input with positive spillover effects across the economy. 3. The long-run growth rate is determined solely by exogenous savings behavior. Which of the conclusions given above are correct?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11, 2 and 3
- 21 and 3 only
- 32 and 3 only
- 41 and 2 only✓
Correct answer
1 and 2 only
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