Author Question: Classical growth theory proposes that real GDP growth is ________ and that real GDP per person will ... (Read 128 times)

jace · **on:** Jun 29, 2018

Classical growth theory proposes that real GDP growth is ________ and that real GDP per person will ________ the subsistence level.

A) permanent; temporarily be above
B) permanent; always be above
C) temporary; temporarily be above
D) temporary; be above and below

Question 2

Gruel is an inferior good. Hence, a decrease in people's incomes

A) shifts the supply curve of gruel leftward.
B) decreases the quantity of gruel supplied.
C) shifts the demand curve for gruel rightward.
D) shifts the demand curve for gruel leftward.