If real GDP per person is above the subsistence level then, according to classical growth theory,
A) the population will increase.
B) the standard of living will continue to improve.
C) the population will decrease.
D) labor productivity will increase.
E) more technological advances occur.
A
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Use the following table to answer the question below.OutputTotal Cost0$10102020283038405350736098The marginal cost associated with the production of the fortieth unit of output is
A. $2.50. B. $9.80. C. $1.50. D. $1.00.
China is trying to move its banking system from being strictly ________ owned by having them issue shares overseas
A) state B) domestic investor C) depositor D) domestic corporate
The relevant market is defined as the set of goods whose
a. price elasticities of demand are low b. cross elasticities with other goods outside the set are high c. price elasticities of demand are high d. income elasticities of demand are high e. cross elasticities with other goods in the set are high
According to the principle of comparative advantage, all countries can benefit from trading with one another because trade allows each country to specialize in doing what it does best
a. True b. False Indicate whether the statement is true or false