Which of the following does NOT represent an assumption in Schumpeter’s concept of the stationary state?

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Existence of perfect competitionAn economy operating with unemploymentAbsence of savings and technological progressLack of necessity for entrepreneurial activityConstant population growth

Explanation

Schumpeter’s stationary state assumes perfect competition, no savings or technological innovation, and no need for entrepreneurial functions. However, it does not assume that the economy is operating below full employment.