Economics · Economy
Match LIST-I with LIST-II based on the Endogenous Technical Progress framework: LIST-I (Endogenous Growth Aspect) A. Paul Romer's Core Mechanism B. Robert Lucas's Core Mechanism C. Key Policy Justification D. Primary Long-term Implication LIST-II (Specific Characteristic) I. Generates sustained expansion internally through investments in education and learning-by-doing. II. Provides the theoretical rationale for public spending on education, R&D subsidies, and intellectual property rights. III. Treats knowledge as a non-rival good where R&D spillovers act as internal drivers of expansion. IV. Asserts that economic growth can continue indefinitely, driven by internally generated technical progress. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A-I, B-III, C-II, D-IV
- 2A-III, B-I, C-II, D-IV✓
- 3A-III, B-II, C-IV, D-I
- 4A-IV, B-I, C-III, D-II
Correct answer
A-III, B-I, C-II, D-IV
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