Multiple Choice
Classical growth theory asserts that
A) an increase in the labor supply raises real wage rates.
B) the economy can grow indefinitely.
C) real wage rates fall over time and, as they fall, they increase the population growth rate.
D) population growth is determined by the level of real GDP per person.
Correct Answer:
Verified
Correct Answer:
Verified
Q75: The classical growth theory's view of the
Q76: Labor productivity increases with<br>A) increases in consumption
Q77: New growth theory predicts that<br>A) economic growth
Q78: When labor productivity increases, the demand for
Q79: If capital per hour of labor decreases,
Q81: New growth theory assumes that<br>A) all inputs
Q82: In the neoclassical theory of growth, growth
Q83: A higher saving rate leads to faster
Q84: By measuring _ we can see that
Q85: Which of the following statements are TRUE