Classical growth theory argues that when real GDP per person rises above the subsistence level

A) technological change slows down, stagnating the economy.
B) population growth increases, driving real GDP per person back to subsistence level.
C) people don't want to work as much, decreasing labor supply.
D) the economy enjoys a period of permanent growth.


B

Economics

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In which of the following categories has spending as a percentage of GDP generally declined since the 1960s?

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In the case of negative externalities, _____

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GNI per capita can be adjusted by purchasing power to account for differences in the cost of living.

a. true b. false

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