According to the Classical growth model, population growth:
A. eventually reduces output.
B. does not affect output per worker.
C. eventually reduces output per worker.
D. does not affect output.
Answer: C
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In 2010, the U.S. government had tax revenues of $2,703 billion and outlays were $3,973 billion. The budget
A) deficit was $1,270 billion. B) deficit was $3,973 billion. C) surplus was $2,703 billion. D) was balanced because every dollar the government spends it must raise. E) surplus was $1,270 billion. The table above gives a nation's government outlays and tax revenues for 2008 through 2012.
Because Corning produces durable goods, the demand for their goods
A) declines when incomes in the economy are rising. B) is likely to increase during recession. C) is consistently high, regardless of the state of the economy. D) tends to follow the business cycle.
According to purchasing-power parity theory, the nominal exchange rate between the U.S. and another country should equal the U.S. price level divided by the price level in the foreign country
a. True b. False Indicate whether the statement is true or false
Free Market System
What will be an ideal response?