Explain why growth based only on a growing labor force can on average leave people less well-off.

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Explain why growth based only on a growing labor force can on average leave people less well-off. Would your answer be different if there were increasing returns to scale?

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International Economics

ISBN: 9780078021671

8th Edition

Authors: Dennis Appleyard, Alfred Field

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Question Posted: Dec 02, 2015 04:23 AM

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Explain why growth based only on a growing labor force can on average leave people less well-off.

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If constant or decreasing returns to scale characterize production of all commodities then ...View the full answer

International Economics

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