If endogenous growth models are correct, a lower rate of growth in the long run could occur as a result of which of the following? none of the other answers a redefinition of depreciation an increase in human capital a lower rate of saving a higher rate of technological progress
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These models suggest that economic growth is primarily driven by internal factors, such as human capital, innovation, and knowledge, rather than external factors like physical capital accumulation. Show more…
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This graph contains three per-worker production functions: pwpf1, pwpf2, and pwpf3. The x-axis is labeled “Capital per hour worked, K/L” and the y-axis is labeled “Real GDP per hour worked, Y/L.” All three per-worker production functions begin at the origin where the x- and y-axes meet. All three per-worker production functions have the same curve, where they start out steep and plateau as they move to the right. Pwpf1 plateaus lower than pwpf2, and pwpf2 plateaus lower than pwpf3. There are 4 points, A-D, that are labeled on these per-worker production functions. Point A is on pwpf2. A vertical dashed line run from Point A to the x-axis, where the label (K/L)1 is marked. Points B, C, and D are on pwpf1, pwpf2, and pwpf3, respectively, and all three line up vertically with one another. A vertical dashed line runs through Points B, C, and D and goes down to the x-axis, where it’s labeled (K/L)2. Points A and B line up horizontally with one another. A horizontal dashed line runs through Points A and B over to the y-axis; this line is labeled (Y/L)1. A second horizontal dashed line runs from Point C over to the y-axis and is labeled (Y/L)2. A third horizontal dashed line runs from Point D over to the y-axis and is labeled (Y/L)3. Holding all else constant, a movement from A to C can be explained by: Group of answer choices An increase in capital A negative technological change An increase in labor A positive technological change
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An increase in the number of college graduates impacts what? A) human capital B) physical capital C) technological progress
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