Question
9. In which of the two growth theories does population growth play a critical role and what is its role? 10. What role do diminishing
9. In which of the two growth theories does population growth play a critical role and what is its role?
10. What role do diminishing returns play in the new growth theory?
11. Which growth theory is most pessimistic about the prospects for persistent economic growth? Which is most optimistic?
12. Does persistent economic growth necessarily occur when a nation meets all the preconditions for growth?
13. What role do specialization and trade play in determining economic growth?
14. Is it possible for the government to create large increase in the economic growth rate, say from 3 percent to 10 percent in a year?
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