A problem with the neoclassical growth theory is its
A) prediction that population growth raises the real wage rate.
B) prediction that population growth lowers the real wage rate.
C) inability to explain persistent differences between countries' GDP growth rates.
D) comparison of the economy to a perpetual motion machine.
Correct Answer:
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Q315: Economics became known as the "Dismal Science"
Q316: Which of the following ideas apply to
Q317: Neoclassical growth theory
A) makes no predictions about
Q318: Which of the following ideas apply to
Q319: According to neoclassical growth theory, increased real
Q321: New growth theory predicts that
A) economic growth
Q322: New growth theory economists believe that:
I. Economic
Q323: Which theory emphasizes the significance of new
Q324: In new growth theory, does not experience
Q325: predicts that real GDP per person can
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