An assumption of classical growth theory is that when ________ the population growth rate ________.
A) people become more skilled; decreases
B) saving declines; decreases
C) the real wage rate falls; increases
D) real GDP per person exceeds the subsistence level; increases
Correct Answer:
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Q43: Neoclassical growth theory assumes that technological progress
A)is
Q44: Saving and investment that increase a nation's
Q45: When the population increases with no change
Q46: If a nation's population grows, then,
A)growth in
Q47: Moving along the aggregate production function shows
Q49: An important foundation of the new growth
Q50: Full employment corresponds to
A)equilibrium in the labour
Q51: Classical growth theory states that
A)growth in real
Q52: Which of the following is consistent with
Q53: According to the law of diminishing returns,
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