Classical economists (The Malthusian Population Trap model) thought that fertility would rise with increases in household income, up to some maximal number of births per woman over the reproductive cycle, at which point fertility would stabilize.

(a). Is the global evidence on fertility behavior consistent with the classical model?

(b). How does the modern neoclassical theory of fertility (the microeconomic theory of fertility) differ from the classical theory, in predicting how fertility responds to household income? Briefly explain the key predictions of the neoclassical approach and how they are obtained.

Answer: Explanation is provided in chapter 6, pages 286-293 from Todaro.