In the Neoclassical Growth Theory,differences in Per Capita Income Are

question 63

Multiple Choice

In the neoclassical growth theory,differences in per capita income are determined by differences in the

• A)saving rate.
• B)population growth rate.
• C)depreciation rate.
• D)all of the above.

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Definitions:

Population

The total number of people inhabiting a specific area or the members of a particular species within an ecological community.

GDP Deflator

A method for measuring the price levels of all new, domestically originated, final goods and services in an economic framework.

Real GDP

Represents the value of all final goods and services produced within a country's borders in a specific time period, adjusted for inflation.

Percentage Change

A calculation that indicates how much something increases or decreases in value, expressed as a ratio of the initial value to the difference in value, times 100.