In Neoclassical Growth Theory,average Material Living Standards in an Economy

question 60

Multiple Choice

In Neoclassical growth theory,average material living standards in an economy could fall when

• A)additional units of capital are added to the other factors.
• B)additional units of labour are added to the other factors.
• C)there is equal percentage growth in capital and labour inputs.
• D)technology improves.
• E)there is a decline in the population.

---

Definitions:

Early Modernity

The period roughly from the late 15th to the 18th century, marking the transition from medieval to modern times.

Poor

Individuals or groups lacking in financial resources or wealth, which affects their ability to access basic needs like food, shelter, and healthcare.

Holocaust

The genocide of approximately six million Jews during World War II by Nazi Germany, led by Adolf Hitler, as part of a systematic and state-planned program of extermination.

Zygmunt Bauman

A Polish sociologist known for his analyses of modernity, consumerism, and globalization, and his concept of "liquid modernity."