Author Question: Neoclassical growth theory proposes that A) technological progress increases the population ... (Read 91 times)

Caiter2013 · **on:** Jun 29, 2018

Neoclassical growth theory proposes that

A) technological progress increases the population growth rate and drives down real wages.
B) real GDP per person grows because technological change increases profit opportunities.
C) real GDP growth is caused by growth in the population.
D) discoveries result from choices that increase profits.

Question 2

Suppose the price level this year is 150 and the price level last year was 125. The inflation rate between last year and this year was

A) 20 percent.
B) 2 percent.
C) 16.6 percent.
D) 1.6 percent.