The neoclassical growth model predicts absolute convergence for countries with the
A. same technology, savings rate, and population growth
B. same technology and savings rate, but different rates of population growth
C. same technology and population growth, but different savings rates
D. same population growth and savings rate, but different levels of technology
E. same population growth, but different levels of technology or savings rates
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In a growth model with endogenous population growth and an investment requirement that rises slowly at first then rises sharply and eventually flattens out, we can get
A. three steady-state equilibria, only one of which is stable
B. three steady-state equilibria, only two of which are stable
C. three steady-state equilibria, all of which are stable
D. one stable steady-state equilibrium, but only if the savings rate is high enough
E. both B) and D) are possible
An endogenous growth model predicts that if the rates of both population growth and saving increase, then the growth rate of GDP per capita will
A. increase
B. decrease
C. stay the same
D. temporarily increase, but then go back to its original level
E. either increase, decrease, or stay the same (we cannot say for sure)
Which of the following policies does NOT affect the long-term growth rate of a nation?
A. investment tax credits or any other policy that reduces the cost of capital
B. an expansionary fiscal/expansionary monetary policy mix
C. increased funding for primary education
D. incentives to increase saving
E. more funding for research and development
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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