Economics · Economic Growth Models
Which among the following is NOT a feature of J.E. Meade's growth model?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It assumes that the capital-labour ratio cannot change.✓
- 2Perfect substitution is possible between consumption and capital goods.
- 3The economy produces consumption goods and producer goods.
- 4Perfect competition prevails.
Correct answer
It assumes that the capital-labour ratio cannot change.
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