The Schumpeterian growth model is based on three main ideas: (a) Long-run growth results from innovations; (b) innovations result from entrepreneurial investments that are themselves moti- vated by the prospects of monopoly rents; and (c) new innovations replace old technologies.
The Schumpeterian growth model is based on three main ideas: (a) Long-run growth results from innovations; (b) innovations result from entrepreneurial investments that are themselves moti- vated by the prospects of monopoly rents; and (c) new innovations replace old technologies.
Explanation to the Samuelson's Model of Business Cycle:
An autonomous increase in the level of investment raises income by a magnified amount depending upon the value of the multiplier. This increase in income further induces the increases in investment through the acceleration effect.
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Answer:
The Schumpeterian growth model is based on three main ideas: (a) Long-run growth results from innovations; (b) innovations result from entrepreneurial investments that are themselves moti- vated by the prospects of monopoly rents; and (c) new innovations replace old technologies.
Explanation:
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Answer:
The Schumpeterian growth model is based on three main ideas: (a) Long-run growth results from innovations; (b) innovations result from entrepreneurial investments that are themselves moti- vated by the prospects of monopoly rents; and (c) new innovations replace old technologies.
Explanation to the Samuelson's Model of Business Cycle:
An autonomous increase in the level of investment raises income by a magnified amount depending upon the value of the multiplier. This increase in income further induces the increases in investment through the acceleration effect.
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