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- Discuss the difference between Neoclassical Growth Theory and New Growth Theory. What does new growth theory emphasize on?if output is measured as growing at 5 percent during a given business cycle, and input grew at 2 percent over that same time period, then overall labor productivity growth is said to be ?Long-run economic growth can occur as a result of
- what is the "Old Growth Theory," and what role does it play in Macroeconomic policy?The expansionary (or recovery) phase of the business cycle is an example of economic growth. True or False? Explanation....The neoclassical theory of growth identifies the steady-state rate of growth as the _________ just sufficient to keep ____________ constant while labour grows. technology, productivity consumer demand, output investment, capital per person savings, investment
