In the World of Malthus, Real GDP Per Person Eventually

question 264

Multiple Choice

In the world of Malthus, real GDP per person eventually stops growing. The primary reason for the decrease in economic growth is that

• A) savings were not required in order for investment to occur.
• B) there are diminishing returns to labor that drives the real wage back to the subsistence level.
• C) the neoclassical growth model had not yet been invented.
• D) rising wage rates would severely reduce the rate of growth of labor productivity.

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Definitions:

Protein Synthesis

The process by which cells construct proteins, directed by the genetic information carried in DNA and facilitated by ribosomes.

Gene Action

The process by which genes are expressed as observable traits, involving transcription, translation, and the subsequent functioning of proteins.

Pairs Of Chromosomes

Sets of two chromosomes, one from each parent, present in most non-sex cells of an organism, totaling 46 in humans.

Human Cells

Basic structural, functional, and biological units of the human body, comprising various types to perform different functions.