Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Critically evaluate the two following contradictory statements: 1) Economic growth results from technological change, which results from creative people responding to incentives. A larger population

Critically evaluate the two following contradictory statements:

1) Economic growth results from technological change, which results from creative people responding to incentives. A larger population has more creative people, so it brings faster technological advance. So population growth brings faster growth of real GDP per person.

2) Economic growth can be sustained only if we conserve natural resources. A larger population places strain on natural resources, so population growth brings slower growth of real GDP per person.

Which statement is "correct"? Why?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Economics Principles and Policy

Authors: William Baumol, Alan Blinder

13th edition

1305280595, 1305280598, 9781305465626 , 978-1305280595

More Books

Students also viewed these Economics questions

Question

2 What are the key elements of an e-business architecture?

Answered: 1 week ago

Question

How do classifying samples help you to make data-driven decisions

Answered: 1 week ago