Multiple Choice
What best explains why real GDP per person is always driven to the subsistence level in the classical model?
A) Population growth occurs, increasing the supply of labor.
B) Population growth occurs, shifting the labor supply curve leftward.
C) Growth is not possible so the demand for labor never changes.
D) Investment in capital decreases labor demand, decreasing the demand for labor.
Correct Answer:
Verified
Correct Answer:
Verified
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