Classical growth theory argues that when real GDP per person rises above the subsistence level,
A) people donʹt want to work as much, decreasing labor supply.
B) the economy enjoys a period of permanent growth.
C) technological change slows down, stagnating the economy.
D) population growth increases, driving real GDP per person back to subsistence level.
Correct Answer:
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Q199: The more education that workers have, the
Q200: If the level of technology rises, real
Q201: Which of the following ideas apply to
Q202: Classical growth theory states that
A) advances in
Q203: The neoclassical growth theory says, in part,
Q205: Which of the following is consistent with
Q206: Which of the following predicts that there
Q207: Which of the following ideas are included
Q208: Neoclassical growth theory predicts that
A) population growth
Q209: According to the neoclassical growth theory,
A) forces
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