Both Romer and Solow develop models of economic growth sharing the following hypotheses: a. Economic growth is subject to increasing returns to scale owing to learning-by-doing and the capture of positive spillovers. b. Economic growth yields increasing returns because of innovation and knowledge creation yielding non-rival goods. c. Economic growth is such that social returns to investment and innovation exceed the private returns to such endeavors. d. Economic growth can be sustained indefinitely by increases in A or in technology. Which of the following policy would not simultaneously capture the positive spillovers in Romer's endogenous growth model and shift f(k) upward in the Solow classical model of economic growth: - a. Public investment in post-secondary education and human 25. capital formation b. Public investment in research and development (R&D) c. Promotion of accommodating regulatory and institutional change. d. An increase in unemployment compensation from 26 weeks to 52 weeks.

Both Romer and Solow develop models of economic growth sharing the following hypotheses: a. Economic growth is subject to increasing returns to scale owing to learning-by-doing and the capture of positive spillovers. b. Economic growth yields increasing returns because of innovation and knowledge creation yielding non-rival goods. c. Economic growth is such that social returns to investment and innovation exceed the private returns to such endeavors. d. Economic growth can be sustained indefinitely by increases in A or in technology. Which of the following policy would not simultaneously capture the positive spillovers in Romer's endogenous growth model and shift f(k) upward in the Solow classical model of economic growth: - a. Public investment in post-secondary education and human 25. capital formation b. Public investment in research and development (R&D) c. Promotion of accommodating regulatory and institutional change. d. An increase in unemployment compensation from 26 weeks to 52 weeks.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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