If the world's population is growing by 1 percent a year, (a) How fast does production have
Question:
(a) How fast does production have to increase to keep living standards from falling?
(b) Will living standards rise, fall, or stay the same if the workforce and productivity (MPP) also increase by 1 percent each year?
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a Equal to 1 b Living standards will stay the same ...View the full answer
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