Match List–I with List–II. List–IList–II a. Stylised facts of economic growth 1. R.M. Solow b.…
Nicholas Kaldor set out the 'stylised facts' of economic growth (a-2), and R. M. Solow built the neoclassical exogenous growth model (b-1). E. S. Phelps formulated the…
Choose your answer
Match List–I with List–II.
| List–I | List–II |
|---|---|
| a. Stylised facts of economic growth | 1. R.M. Solow |
| b. Exogenous growth theory | 2. N. Kaldor |
| c. Golden rule of accumulation | 3. Radner & Samuelson |
| d. Optimal growth turnpikes | 4. E.S. Phelps |
Codes ordered a,b,c,d:
Answer and explanation
Correct answer C
Nicholas Kaldor set out the 'stylised facts' of economic growth (a-2), and R. M. Solow built the neoclassical exogenous growth model (b-1). E. S. Phelps formulated the golden rule of accumulation (c-4), and Radner and Samuelson developed turnpike theorems of optimal growth (d-3), giving 2, 1, 4, 3.
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UGC NET Economics