According to classical growth theory, if labor productivity increases,
A) people save more, which increases the capital per hour even more, and so economic growth continues indefinitely.
B) the population grows and eventually real GDP returns to the subsistence level.
C) the population grows but more slowly than real GDP so that people's incomes are permanently higher.
D) the pursuit of profit causes further increases in capital per hour and technology and economic growth continues indefinitely.
E) the growth rate of real GDP per person permanently increases.
Question 2
The slope of the curve at point B
A) is less than the slope at point A.
B) is equal to the slope at point A.
C) is greater than the slope at point A.
D) cannot be compared with the slope at point A.
E) can be compared with the slope at point A, but more information is needed to determine if the slope is greater than, less than, or equal to the slope at point A.
The logistic growth model does not describe all populations.
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