Economics · Economic Growth

Who formulated the theory of the 'Low-Level Equilibrium Trap' in development economics?

Verified Solution4 OptionsUpdated: October 2026👁️1 View

1Simon Kuznets
2Richard R. Nelson✓
3Evsey Domar
4Roy F. Harrod

Correct answer

Richard R. Nelson

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Who formulated the theory of the 'Low-Level Equilibrium Trap' in development economics?

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