The neoclassical growth theory concluded that economic growth is temporary because of a population explosion that occurs as a result of economic growth.
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Q329: Q340: If the price level rises faster than Q341: All else equal, an increase in population Q342: The classical growth theory's view of the Q343: The higher the real wage rate, the Q345: New growth theory holds that choices, and Q346: New growth theory claims that economic growth Q347: The neoclassical growth theory is based on Q348: Faster long-term growth can be achieved by Q349: In neoclassical growth theory, technological progress is
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