If Labor Productivity Rises Above the Subsistence Level Then, According

question 240

Multiple Choice

If labor productivity rises above the subsistence level then, according to classical growth theory,

• A) population growth will slow down.
• B) a population explosion will occur.
• C) labor productivity growth permanently increases.
• D) real GDP per person will remain above the subsistence level.
• E) real GDP per person will fall below the subsistence level.

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Definitions:

Sherman Act

A landmark federal statute in the field of Antitrust Law passed by Congress in 1890, which outlaws monopolistic business practices.

Foreign Companies

Businesses that are incorporated or registered outside of a country’s borders and operate within that country.

U.S. Commerce

Refers to the economic activities and trade within the United States, including transactions of goods and services.

Interstate Commerce Act

A United States federal law designed to regulate the railroad industry, particularly its monopolistic practices, by requiring reasonable and just rates with the establishment of the Interstate Commerce Commission.