Compared to Neoclassical growth theory, newer "endogenous growth" theories are more ______ regarding the prospect of continuous increases in the standard of living, due in part to its emphasis on the ______ pessmistic; increasing birth rates as a result of higher real income per capita pessmistic; endogeneity of technological change pessmistic; accelerating depletion of natural resources ? optimistic; endogeneity of technological change optimistic; accelerating depletion of natural resources
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Step 1: Neoclassical growth theory focuses on the idea that economic growth is driven by exogenous factors such as capital accumulation and technological progress. Show more…
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