In the context of growth theory, 'Semi-Endogenous Growth' models feature:
A. Long-run growth that depends on population growth but not on policy parameters that affect the R&D share
B. Long-run growth that is fully endogenous to policy
C. Only exogenous technological progress
D. No role for research and development
Answer: Option A
Solution (By JKSSB Mock Tests)
Semi-endogenous growth models retain diminishing returns to knowledge in the R&D sector, so that long-run growth is proportional to population growth and is not affected by the share of resources devoted to R&D.
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