Which of the following predicts that there can be no sustained rise in real GDP per person above the subsistence level?
A) classical growth theory
B) neoclassical growth theory
C) new growth theory
D) None of the above because all predict that there will be a sustained rise above the subsistence level.
A
Economics
You might also like to view...
If oil prices increase, then in the short run, real GDP will ________ and the price level will ________
A) increase; rise B) increase; fall C) decrease; rise D) decrease; fall E) not change; rise
Economics
Automated production methods are only attractive when they
a. are undertaken in heavily unionized sectors of the economy. b. reduce per-unit costs. c. replace workers. d. decrease labor productivity.
Economics