If real GDP per person rises above the subsistence level then, according to classical growth theory,
A) a population explosion will occur.
B) labor productivity growth permanently increases.
C) population growth will slow down.
D) real GDP per person will fall below the subsistence level.
E) real GDP per person will remain above the subsistence level.
A
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The Malthusian population trap model has been criticized on the grounds that it
(a) ignores the role of technological progress. (b) assumes that population growth is primarily determined by individual choice over the number of children to have. (c) both (a) and (b) are correct. (d) neither (a) nor (b) is correct.
Everything else held constant, if a central bank makes a sterilized purchase of foreign assets, then the domestic currency will
A) appreciate. B) depreciate. C) either appreciate, depreciate, or remain constant. D) not be affected.
Monopolistic competitors are
a. price takers b. price searchers c. price maximizers d. price ignorers e. collusive price fixers
Products that have inelastic demand have many substitutes
Indicate whether the statement is true or false