According to the "sticky wage" theory

Group of answer choices

Inflation causes real wages to fall for a time

A minimum wage is needed to prevent wages from "sticking" to a price floor

Employers prefer to increase capital input rather than labor input

Prices of most goods and services "stick" to the price of wages

Neo-Malthusians such as Paul Ehrlich have

Group of answer choices

Continued to predict that population growth and overconsumption will soon lead to resource depletion and widespread global poverty and been proved wrong by events as global povery has declined.

Continued to predict that population growth and overconsumption will soon lead to resource depletion and widespread global poverty and been proved right by increases in global poverty.

b. Predicted more frequent recessions due to instability in the financial system.

Forecasted high growth rates of GDP per capita, and been proved right as the majority of people no longer experience scarcity.

According to the growth theory of Paul Romer as presented in this course, long-run economic growth is the result of

Group of answer choices

Many people generating many new ideas

Lower population growth

Intellectual property rights

Malthusian economics