Economic growth ________
A) is driven by different elements in different economies
B) is driven primarily by digital technology
C) is driven primarily by labor growth
D) cannot be explained using economic models
A
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Neoclassical growth theory predicts that
A) population growth rates slow as employment opportunities for women increase. B) population explosions decrease real GDP per person. C) economic growth leads to technological change. D) the pursuit of profit creates perpetual growth.
Stanley Engerman's (1971) work on the economic impact of the Civil War (1861–1865) refuted a view sometimes called the Beard-Hacker thesis. This thesis holds that
(a) the Civil War (1861–1865) held back the ongoing processes of industrialization. (b) the Civil War (1861–1865) accelerated the ongoing processes of industrialization. (c) the Civil War (1861–1865)'s demands for manufactured goods increased American long-term dependency on foreign trade. (d) the Civil War (1861–1865) was more disruptive of the "westward movement" than it was of ongoing processes of industrialization.