A Key Element of the Classical Growth Theory Is That

question 214

Multiple Choice

A key element of the classical growth theory is that

• A) economic growth can be sustained as long as government intervention does not occur.
• B) increases in technology drive economic growth.
• C) an increase in population leads to increase in labor supply and a decline in real wage rates.
• D) low taxes promote economic growth.
• E) market forces drive economic growth.

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Definitions:

Joint Committees

Committees formed from members of both chambers of a bicameral legislature, tasked with conducting studies or performing duties beyond the purview of a single chamber.

Present Legislation

The body of laws and regulations currently in effect within a governmental jurisdiction.

Filibuster

A political tactic used in legislative assemblies to delay or prevent a vote on a proposal by speaking at length.

Senate

The upper house of the legislature in many countries, often responsible for reviewing and ratifying legislation.