According to _______ growth theory, growth of real GDP per person comes to a stop because a population expl returns real GDP per person to the subsistence level. According to _______ growth theory, growth of real GDP per person comes to a stop when technology stops advancing.
According to _______ growth theory, growth of real GDP per person is unending.

Question

Quizplus · Accepted Answer

Classical growth theory posits that population growth will dilute capital and resources, returning GDP per capita to subsistence levels. Neoclassical growth theory suggests that growth halts when technological progress stops. New growth theory argues that growth can continue indefinitely through innovation and knowledge accumulation.

According to _______ Growth Theory, Growth of Real GDP Per