Which of the following are predicted by the classical growth theory?
i. Population growth will end economic growth.
ii. Real GDP per person will return to subsistence level.
iii. Technology drives persistent economic growth.
A) i only B) ii only C) i, ii and iii D) i and iii E) i and ii
Question 2
When the price level falls,
A) there is a movement upward along the AS curve.
B) both the potential GDP line and the AS curve shift leftward.
C) the AS curve shifts leftward but the potential GDP line does not shift.
D) the AS curve shifts rightward but the potential GDP line does not shift.
E) there is a movement downward along the AS curve.
Growth of a bacterial colony.
Growth of yeast cells in culture fits the logistic growth model.
Old-growth redwood forest in western North America. Redwoods are the tallest trees in the world, wit
Mason Williams - Classical Gas
The Solow Model Incorporating Population Growth
Calculating Growth Rate of Bacteria