A problem with the neoclassical growth theory is its
A) comparison of the economy to a perpetual motion machine.
B) prediction that population growth lowers the real wage rate.
C) inability to explain persistent differences between countries' GDP growth rates.
D) prediction that population growth raises the real wage rate.
Correct Answer:
Verified
Q1: The labour demand curve slopes downward because
A)workers
Q2: According to the new growth theory, competition
A)reduces
Q3: All of the following lead to more
Q4: Real GDP grows when
A)Only I
B)Only II
C)Both I
Q5: If the real wage rate is such
Q7: Which theory emphasises the significance of new
Q8: If real GDP is $800 million and
Q9: We are interested in long- term growth
Q10: The gaps between the Australia and the
Q243: According to new growth theory_ .
A) knowledge
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