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Which of the following policies would lawmakers not want to use to help in the development of knowledge capital?A. According to the theory of the production cycle, after the Second World War in Europe has increased demand for manufactured products like those produced in USA. This can create an environment for skilled professionals to have an opportunity to not only fulfill their primary jobs but also explore the creation of new services that can be of benefit and use to the broader public. If the profit incentive is great enough, people will choose to grow human capital and look harder for new innovations. Software and app development may take place within companies, following the new growth theory. C. technology. According to new growth theory A)physical capital is nonexcludable. The definition of a theory in science is very different from the everyday usage of the word. Increases in human capital can lead to greater rates of economic growth. A. C)growth in real GDP per capita occurs only if there are increasing returns. Knowledge is treated as an asset for growth that is not subject to finite restrictions or diminishing returns like other assets such as capital or real estate. Luck And Chance O C. Foreign Investment D. Curiosity About How Things Work E. Many People Can Use One Discovery At The Same Time New Growth Theory Predicts That Economic Growth Will Never End Because O A. New Growth Theory , Advanced Macroeconomics 3rd - David Romer | All the textbook answers and step-by-step explanations The new growth theory does not simply criticise the neoclassical growth theory. According to new growth theory, economic growth is driven by. 85) Technological change allows the economy to produce more output with the same amount of capital and labor. 0 votes. According to new growth theory, the primary source of growth is: A. entrepreneurship. There are many variants of endogenous growth theory, but a robust prediction is that an increase in population or an increase in the share of people working in the knowledge sector will increase economic growth. This Question has Been Answered! 85) Technological change allows the economy to produce more output with the same amount of capital and labor. New growth theorists believe that firms generally undervalue the usefulness of knowledge and, as a result, argue that it is mainly up to governments to invest in human capital. a new political approach and of a new economic theory able to clarify whether market forces can lead the economy towards full employment or Government intervention is required to restore it. c. knowledge about how to produce goods and services is an important source of economic growth. capital. Question According to new growth theory, the primary source of growth is: entrepreneurship. These come about by increased education, on-the-job training, and self-teaching. According to new growth theory, the primary source of growth is: A. entrepreneurship. Luck And Chance O C. Foreign Investment D. Curiosity About How Things Work E. Many People Can Use One Discovery At The Same Time New Growth Theory Predicts That Economic Growth Will Never End Because O A. Explore answers and all related questions . The neo-classical growth model makes no attempt to explain how, when and why technological progress takes place. According to new growth theory A)physical capital is nonexcludable. The endogenous growth models have been developed by Kenith J. Arrow, Paul Romer, Lucas and other economists. Suppose government policymakers wanted to assist the country in the development of knowledge capital. Copyrights are the inputs needed for the creation of a good at a lower opportunity cost another. 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