When the social returns to capital exceed the private returns, 1. The benefit of increased capital accumulation to society are greater than the Solow model suggests 2. Technological advance occurs as a by-product of certain economic activities 3. New and improved production processes are devised during the process of building capital a. only 1 and 2 are correct b. only 1 and 3 are correct C. only 2 and 3 are correct d. all of the options are correct

When the social returns to capital exceed the private returns, 1. The benefit of increased capital accumulation to society are greater than the Solow model suggests 2. Technological advance occurs as a by-product of certain economic activities 3. New and improved production processes are devised during the process of building capital a. only 1 and 2 are correct b. only 1 and 3 are correct C. only 2 and 3 are correct d. all of the options are correct

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter20: Economic Growth

Section: Chapter Questions

Problem 12SCQ: Why dues productivity growth in high-income economies not slow down as it runs into diminishing...

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