Robert Solow showed mathematically that, in the long run, growth in gross national product per worker is due more to:
A)infrastructure development than to technological innovation.
B)capital investment than to R and D.
C)large investment banks than to technological institutes.
D)technological progress than to mere capital investment.
E)investment in labor and capital than mere technological progress.

Question

Quizplus · Accepted Answer

Robert Solow's model, known as the Solow-Swan model, demonstrates that long-term economic growth per worker is primarily driven by technological progress rather than just capital investment. This model highlights the importance of technological innovation in increasing productivity and sustaining economic growth over time.

Robert Solow Showed Mathematically That, in the Long Run, Growth