Which of the following statements is true about the Endogenous Growth Model?
1
The Endogenous Growth Model assigns total responsibility for economic growth to external factors
2
The Endogenous Growth Model suggests that policy changes have no long-term effects on economic growth
3
The Endogenous Growth Model proposes that investment in human capital, innovation, and knowledge are significant contributors to economic growth
4
The Endogenous Growth Model maintains economic growth garners diminishing returns in the long term