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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.
Fiscal policy is the program of government’s with respect to the amount and composition of (i) expenditure: the purchase of commodities and services, and spending in the form of su
discuss the effect that the activities of a trade union might have on an economy?
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