Which of the following is associated with classical growth theory?
I. Growth in real GDP can continue indefinitely.
II. Technological growth increases as the population grows.
III. Population explosions bring real GDP per person back to subsistence levels.
A) I
B) II
C) III
D) I and III
C
You might also like to view...
Illustrate graphically the effect the credit market crisis in the United States in 2008 had in the market for existing single-family homes
Assuming the demand for existing single-family homes is relatively inelastic, what is likely to happen to the total revenues of home sellers as a result of the credit market crisis?
How much trade involves shipping goods between the fairly similar high-income economies of the United States, Canada, the European Union, Japan, Mexico, and China?
a. Roughly one-fourth b. Roughly one-third c. Roughly one-half d. Roughly one-fifth
An increase in interest rates will generally lead to a(n) ____ in present investment and a(n) ____ in future income and production
a. decrease, decrease b. decrease, increase c. increase, decrease d. increase, increase
The Celler-Kefauver Act of 1950:
A. established the FTC. B. closed down a loophole in the Clayton Act by outlawing mergers through the purchase of another firm's physical assets. C. closed down a loophole in the Sherman Act by outlawing mergers through the purchase of another firm's physical assets. D. banned tying contracts.