The assumption that population growth will lead to a fall in real GDP per person rate back to subsistence level is
A) accepted by all economists today.
B) associated with Malthusians.
C) part of the neoclassical school of growth theory.
D) central to the new growth theory.
B
Economics
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Assume that the economy has two sectors, milk and orange juice, and that both sectors are initially in long-run competitive equilibrium. Milk and orange juice are substitute goods
Trace the effects of a change in preferences that increases the demand for orange juice.
Economics
Refer to Figure 10.1. If the level of real GDP is initially Y2, spending is ________ production and there is an unexpected ________ in inventories
A) greater than; increase B) greater than; decrease C) less than; increase D) less than; decrease
Economics