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Question
In classical growth theory, if real GDP per person is above the subsistence level,A) the economy will keep growing without limit.
B) population grows and lowers real GDP per person to its subsistence level.
C) technological growth occurs and keeps real GDP per person above its subsistence level.
D) the pursuit of profit will cause economic growth to accelerate.
E) None of the above is correct because the classical growth theory asserts that real GDP per person can never exceed the subsistence level.
Answer
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Related questions
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Scarcity results from the fact that
A) people's wants exceed the resources available to satisfy them.
B) not all goals are desirable.
C) we cannot answer the major economic questions.
D) choices made in self-interest are not always in the social interest.
E) the population keeps growing.
Q:
Why does scarcity lead to the what, how, and for whom questions?
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D) incentives.
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B) How will health care be produced?
C) For whom will health care be produced?
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B) why
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Q:
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Q:
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Q:
An independent relationship between two variables is shown in a graph by
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B) a horizontal or a vertical line.
C) a downward-sloping line.
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