What is the outcome of classical growth theory? According to classical growth theory, O A. people make choices that determine the pace at which technological advances occur O B. no matter how technology advances, real wage rates are always pushed back toward the subsistence level OC. capital does not experience diminishing returns O D. discoveries bring profit, and competition destroys profit

What is the outcome of classical growth theory? According to classical growth theory, O A. people make choices that determine the pace at which technological advances occur O B. no matter how technology advances, real wage rates are always pushed back toward the subsistence level OC. capital does not experience diminishing returns O D. discoveries bring profit, and competition destroys profit

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter3: Scarcity, Trade-offs, And Production Possibilities

Section: Chapter Questions

Problem 11P

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What are the advantages of backwardness for economic growth?
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