In contrast to neoclassical growth theory,new growth theory lays more emphasis on
A) intangibles than tangibles.
B) tangibles than intangibles.
C) changes in the money supply than changes in taxes.
D) fiscal policy than monetary policy.
E) objects than ideas.

Question

Quizplus · Accepted Answer

New growth theory emphasizes the importance of intangible factors such as knowledge, human capital, and innovation in driving economic growth, whereas neoclassical growth theory focuses more on tangible factors such as physical capital and labor.

In Contrast to Neoclassical Growth Theory,new Growth Theory Lays More