A key element of the classical growth theory is that
A) an increase in population leads to increase in labor supply and a decline in real GDP per person.
B) market forces drive economic growth.
C) economic growth can be sustained as long as government intervention does not occur.
D) low taxes promote economic growth.
E) increases in technology drive economic growth.
Correct Answer:
Verified
Q4: Which of the following are important for
Q5: The presence of an incentive system that
Q6: Economic growth in Cuba has been slow;
Q7: The new growth theory asserts that
A)technology improves
Q8: A technological change--------------------and a change in the
Q10: The new growth theory's comparison of the
Q11: The classical theory was developed in the
Q12: The population in the current year is
Q13: Economic freedom means that
A)the rule of law
Q14: If Turkey wants to promote faster economic
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