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Basic Question 2 of 18
Neoclassical growth theory says an economy reaches a steady state rate of growth when:
II. the capital-to-labor ratio is constant.
III. capital per worker and output per worker grow at the same rate.
I. the output-to-capital ratio is constant.
II. the capital-to-labor ratio is constant.
III. capital per worker and output per worker grow at the same rate.
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
compare classical growth theory, neoclassical growth theory, and endogenous growth theory;
explain and evaluate convergence hypotheses;
describe the economic rationale for governments to provide incentives to private investment in technology and knowledge;
CFA® 2025 Level II Curriculum, Volume 1, Module 9.