A problem with the neoclassical growth theory is its
A) comparison of the economy to a perpetual motion machine.
B) prediction that population growth raises the real wage rate.
C) inability to explain persistent differences between countriesʹ GDP growth rates.
D) prediction that population growth lowers the real wage rate.
Correct Answer:
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Q219: Neoclassical growth theory attributes economic growth to
A)
Q220: The classical model of Malthus predicted that
Q221: Neoclassical growth theory predicts that Chinaʹs economic
Q222: Because of the choices people make in
Q223: Neoclassical growth theory is based on the
Q225: The notion that technological change is not
Q226: Neoclassical growth theory
A) makes no predictions about
Q227: In neoclassical growth theory, technological change _.
A)
Q228: New growth theory assumes that
A) all inputs
Q229: According to new growth theory, technological change
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