This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Which theory of economic growth concludes that in the long run real GDP per person will be at its ... (Read 46 times)

penza

  • Hero Member
  • *****
  • Posts: 1,022
on: Jun 29, 2018
Which theory of economic growth concludes that in the long run real GDP per person will be at its subsistence level?
 
  A) the classical theory
  B) the neoclassical theory
  C) the new growth theory
  D) all of the theories

Question 2

What would happen to measured GDP if more people started hiring workers to do house chores such as cooking and cleaning?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vickyvicksss

  • Sr. Member
  • ****
  • Posts: 351
Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

GDP is the value of the final goods and services that are produced in an economy over a specified time period. However, GDP, as measured, does not include the value of household production people do for themselves around their homes. Therefore if you wash your car at your home or apartment, the value of the car washing is not included in GDP. However if you hired someone to wash your car at your home or apartment, the value of the car washing would be included in GDP. Thus if more people started hiring workers to do household chores, measured GDP would increase.


penza

  • Member
  • Posts: 1,022
Reply 2 on: Jun 29, 2018
YES! Correct, THANKS for helping me on my review

ashely1112

  • Member
  • Posts: 347
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Hypertension is a silent killer because it is deadly and has no significant early symptoms. The danger from hypertension is the extra load on the heart, which can lead to hypertensive heart disease and kidney damage. This occurs without any major symptoms until the high blood pressure becomes extreme. Regular blood pressure checks are an important method of catching hypertension before it can kill you.

Did you know?

In women, pharmacodynamic differences include increased sensitivity to (and increased effectiveness of) beta-blockers, opioids, selective serotonin reuptake inhibitors, and typical antipsychotics.

Did you know?

A cataract is a clouding of the eyes' natural lens. As we age, some clouding of the lens may occur. The first sign of a cataract is usually blurry vision. Although glasses and other visual aids may at first help a person with cataracts, surgery may become inevitable. Cataract surgery is very successful in restoring vision, and it is the most frequently performed surgery in the United States.

Did you know?

Although not all of the following muscle groups are commonly used, intramuscular injections may be given into the abdominals, biceps, calves, deltoids, gluteals, laterals, pectorals, quadriceps, trapezoids, and triceps.

Did you know?

Pregnant women usually experience a heightened sense of smell beginning late in the first trimester. Some experts call this the body's way of protecting a pregnant woman from foods that are unsafe for the fetus.

The Systems in Bronfenbrenner’s Ecological Theory The Systems in Bronfenbrenner’s Ecological Theory
Signal Detection Theory Signal Detection Theory
Economic and Social Development Economic and Social Development
economic question economic question
Primary growth in a shoot Primary growth in a shoot
Video: Peptide Bond Formation Animation

For a complete list of videos, visit our video library