Economics · Theories of Economic Growth

In Joan Robinson's growth model, capital accumulation primarily depends on:

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1The government's fiscal policy and public investment decisions exclusively
2The exogenously given saving propensity of households only
3The expected rate of profit and the 'animal spirits' (desire to invest) of entrepreneurs✓
4The natural growth rate and the rate of depreciation of existing capital

Correct answer

The expected rate of profit and the 'animal spirits' (desire to invest) of entrepreneurs

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