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Basic Question 2 of 18
Neoclassical growth theory says an economy reaches a steady state rate of growth when:
II. the capital-to-labor ratio is constant.
III. capital per worker and output per worker grow at the same rate.
I. the output-to-capital ratio is constant.
II. the capital-to-labor ratio is constant.
III. capital per worker and output per worker grow at the same rate.
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I am using your study notes and I know of at least 5 other friends of mine who used it and passed the exam last Dec. Keep up your great work!
Barnes
Learning Outcome Statements
compare classical growth theory, neoclassical growth theory, and endogenous growth theory;
explain and evaluate convergence hypotheses;
describe the economic rationale for governments to provide incentives to private investment in technology and knowledge;
CFA® 2024 Level II Curriculum, Volume 1, Module 9.