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Basic Question 14 of 18
The main criticism of the neoclassical model is that:
B. The law of diminishing returns of capital does not hold in reality.
C. Convergence is not supported in reality.
A. It is a theory of growth that leaves the main factor in economic growth unexplained.
B. The law of diminishing returns of capital does not hold in reality.
C. Convergence is not supported in reality.
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Edward Liu
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.