The belief that the rate of growth depends upon technological progress facilitated by institutions incentives and government is known as ________ growth theory?
Correct answer: A. endogenous
- A. endogenous
- B. exogenous
- C. beta
- D. convergence
Explanation
Endogenous growth theory explains long-run growth through factors within the economic system, such as technology, education, institutions, incentives, and government policy. Exogenous growth theory treats technological progress as external to the model.
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