Classical growth theory asserts that
A) an increase in the labor supply raises real wage rates.
B) real wage rates fall over time and, as they fall, they increase the population growth rate.
C) the economy can grow indefinitely.
D) population growth is determined by the level of real GDP per person.
Correct Answer:
Verified
Q190: A workerʹs stock of knowledge is known
Q191: Human capital is the
A) technology used by
Q192: Most_ is embodied in physical capital.
A) economic
Q193: The view that population growth occurs when
Q194: An increase in education and training
A) decreases
Q196: Human capital is
A) peopleʹs knowledge and skills.
B)
Q197: If capital per hour of labor decreases,
Q198: On-the-job-training is an example of
A) technological change.
B)
Q199: The more education that workers have, the
Q200: If the level of technology rises, real
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