What is meant by demographic transition? How is it responsible for modern growth?
What will be an ideal response?
Demographic transition refers to the decline in fertility and number of children per family that many societies undergo as they transition from agriculture to industry. Demographic transition is a central ingredient to modern growth because it enabled the economies that experienced reduced fertility to break away from the Malthusian cycle of sustained low GDP per capita.
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The basic economic problem of scarcity
A) is a problem only in developing economies. B) does not apply to the wealthy in society. C) has always existed and will continue to exist. D) will eventually disappear as technology continues to advance.
During the twentieth century, a primary driver of the expansion of the U.S. income tax system has been _____
a. westward expansion b. natural disasters c. military conflict d. withholding