Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 6, Problem 8SPA
(a)
To determine
Explain the processes that will bring the growth of the real
(b)
To determine
Explain the processes that will bring the growth of the real GDP per person to stop according to the neoclassical growth theory.
(c)
To determine
Explain the processes that will bring the growth of the real GDP per person to stop according to the new growth theory.
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Students have asked these similar questions
Over the 120 years from 1900 to 2020, the average growth rate of U.S. real GDP per person was 2 percent a year. What does this tell us?
A.
Real GDP grew faster than the population.
B.
The growth rate of real GDP was 2 percent a year on average.
C.
Real GDP grew slower than the population.
D.
The growth rate of real GDP was less than 2 percent a year on average.
How does increasing the level of public
education spending typically affect the long-
term economic growth of a country?
A. It has no effect on long-term economic
growth.
B. It reduces long-term economic growth
due to higher taxes.
C. It increases long-term economic growth
by improving the workforce's skills and
knowledge.
D. It initially boosts economic growth but
leads to a decline in productivity over time.
Choose the correct statement about economic growth theories.
A.
Modern-day Malthusians point to global warming and climate change as reasons to believe that eventually real GDP per person will decrease.
B.
Classical growth theory tells us profit is the spur to technological change.
C.
According to new growth theory, growth occurs because knowledge and physical capital do not experience diminishing returns.
D.
New growth theory is sometimes called Malthusian theory.
Chapter 6 Solutions
Macroeconomics
Ch. 6.1 - Prob. 1RQCh. 6.1 - Prob. 2RQCh. 6.1 - Prob. 3RQCh. 6.2 - Prob. 1RQCh. 6.2 - Prob. 2RQCh. 6.2 - Prob. 3RQCh. 6.3 - Prob. 1RQCh. 6.3 - Prob. 2RQCh. 6.3 - Prob. 3RQCh. 6.3 - Prob. 4RQ
Ch. 6.3 - Prob. 5RQCh. 6.3 - Prob. 6RQCh. 6.4 - Prob. 1RQCh. 6.4 - Prob. 2RQCh. 6.4 - Prob. 3RQCh. 6.5 - Prob. 1RQCh. 6.5 - Prob. 2RQCh. 6.5 - Prob. 3RQCh. 6 - Prob. 1SPACh. 6 - Prob. 2SPACh. 6 - Prob. 3SPACh. 6 - Prob. 4SPACh. 6 - Prob. 5SPACh. 6 - Prob. 6SPACh. 6 - Prob. 7SPACh. 6 - Prob. 8SPACh. 6 - Prob. 9APACh. 6 - Prob. 10APACh. 6 - Prob. 11APACh. 6 - Prob. 12APACh. 6 - Prob. 13APACh. 6 - Prob. 14APACh. 6 - Prob. 15APACh. 6 - Prob. 16APACh. 6 - Prob. 17APACh. 6 - Prob. 18APACh. 6 - Prob. 19APACh. 6 - Prob. 20APACh. 6 - Prob. 21APACh. 6 - Prob. 22APACh. 6 - Prob. 23APACh. 6 - Prob. 24APACh. 6 - Prob. 25APA
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