Economics · Endogenous Growth Theory
Given below are two statements: One is labelled as Assertion (A) and the other is labelled as Reason (R). Assertion (A): The endogenous growth theory examines production functions that exhibit increasing returns to scale. Reason (R): Increasing returns in endogenous growth theory are driven by specialization, investment in human capital, and learning-by-doing. In the light of the above statements, choose the most appropriate answer:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1(A) is false but (R) is true.
- 2(A) is true but (R) is false.
- 3Both (A) and (R) are true but (R) is NOT the correct explanation of (A).
- 4Both (A) and (R) are true and (R) is the correct explanation of (A).✓
Correct answer
Both (A) and (R) are true and (R) is the correct explanation of (A).
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