How does new growth theory view technology and technological change? a)Technology is more important for growth...

How does new growth theory view technology and technological change?

a)Technology is more important for growth in the short run than in the long run.

b)Technological change is exogenous, and convergence will occur.

c)Technological advances occur at diminishing rates.

d)Technological change in a country is endogenous and occurs because of factors that currently exist in that country.

Expert Solution

Answer = correct option is B

According to new Economic theory, the view regarding technology and technological change is that it is treated as black box and economics which means it is assumed to exogenous and convergence will occur.

Rahul Sunny answered 2 years ago

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How does new growth theory view technology and technological change? a)Technology is more important for growth...

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