A factor that turned out to be a weakness of the classical theory of growth is its
A) emphasis on saving and investment.
B) assumption that the growth rate of the population increases when income increases.
C) reliance on constant growth in technology.
D) neglect of the subsistence real wage.
B
You might also like to view...
Refer to the table above. If the income of the consumer is $24, the optimal choice contains:
A) 1 quart of juice and 1 quart of milk. B) 3 quarts of juice and 4 quarts of milk. C) 4 quarts of juice and 4 quarts of milk. D) 4 quarts of juice and 5 quarts of milk.
Prior to 2008, the primary tool used by the Fed to control the money supply was
a. the manipulation of the required reserve ratio banks must hold against their checking deposits. b. the extension of loans to financial institutions. c. the buying and selling of stocks and corporate bonds. d. the buying and selling of U.S. Treasury securities.