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A key assumption in an endogenous growth model with both labor and capital inputs in the production function is that

A. the share of capital is larger than the share of labor
B. the share of capital and labor have to be equal
C. better technology is a byproduct of more capital investment
D. there are no external returns to capital
E. long-run growth comes solely from technological progress

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In a simple version of the Solow growth model with endogenous population growth, a country can escape the poverty trap by

A. lowering the savings rate and devoting more resources to consumption
B. lowering population growth
C. raising the savings rate
D. both A) and B)
E. both B) and C)

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Separating private returns to capital from social returns to capital, that is, the idea that investment in capital may have positive spillover effects as new ideas and new ways of doing things can be easily copied by others, was first advocated by

A. Robert Barro
B. Robert Lucas
C. Robert Samuelson
D. Paul Solow
E. Paul Romer

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Assume India's income level is now roughly 5% of that of the United States. Assuming there is no change in the savings rates and the levels of technology of these two countries, how many years will it take for India to reach 10% of the U.S.'s income level?

A. 10
B. 20
C. 25
D. 35
E. 50

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The notion of conditional convergence states that two countries that have the same population growth and access to the same level of technology will reach a steady-state equilibrium at

A. different levels of output but the same growth rate, if their savings rates are different
B. different levels of output and different economic growth rates if their savings rates are different
C. the same level of output and the same economic growth rate, even if their savings rates are different
D. the same level of output but different economic growth rates if their savings rates are different
E. the same level of output and the same economic growth rate if their savings rates are the same but their rates of depreciation differ

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A key assumption in an endogenous growth model with both labor and capital inputs in the production function is that

A. the share of capital is larger than the share of labor B. the share of capital and labor have to be equal C. better technology is a byproduct of more capital investment D. there are no external returns to capital E. long-run growth comes solely from technological progress

In a simple version of the Solow growth model with endogenous population growth, a country can escape the poverty trap by

Separating private returns to capital from social returns to capital, that is, the idea that investment in capital may have positive spillover effects as new ideas and new ways of doing things can be easily copied by others, was first advocated by

Assume India's income level is now roughly 5% of that of the United States. Assuming there is no change in the savings rates and the levels of technology of these two countries, how many years will it take for India to reach 10% of the U.S.'s income level?

The notion of conditional convergence states that two countries that have the same population growth and access to the same level of technology will reach a steady-state equilibrium at

A. the share of capital is larger than the share of labor
B. the share of capital and labor have to be equal
C. better technology is a byproduct of more capital investment
D. there are no external returns to capital
E. long-run growth comes solely from technological progress