Economics · Economic Growth Models
In Joan Robinson's economic growth model, the 'golden age' refers to a equilibrium situation where:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Warranted growth rate is less than Actual growth rate
- 2Warranted growth rate is more than Actual growth rate
- 3Desired rate of capital accumulation is equal to the maximum possible rate of growth (gk = gn)✓
- 4Actual growth rate is strictly less than Natural growth rate
Correct answer
Desired rate of capital accumulation is equal to the maximum possible rate of growth (gk = gn)
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