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Q. Describe Endogenous growth theory?
Endogenous growth theory or new growth theory was developed in the 1980s by Paul Romer and others. In neo-classical model, technological progress is an exogenous variable. Neo-classical growth model makes no attempt to explain why, how and when technological progress takes place.
The major objective of the endogenous growth theory is to make the technological progress an endogenous variable to be explained within the model therefore the name endogenous growth theory.
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Can democracy survive if a majority of the citizen pays little or nothing in taxes while benefiting directly from a higher level of government spending? Why or why not?
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Suppose in a large department store, the average number of shoppers is 448, with a standard deviation of 21 shoppers. We are interested in the probability that a random sample of 4
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