Multiple Choice
(Last Word) It is expected that by 2050, most nations will have decreasing populations.With the likely decline in the labor force and number of hours of work in the economy, what must occur for real GDP to continue to rise?
A) Increasing amounts of natural resources must be brought into production.
B) Labor productivity must grow faster than the drop in work hours.
C) Consumption spending must grow faster than the drop in work hours.
D) Government spending and tax policy must be altered to stimulate sufficient demand.
Correct Answer:
Verified
Correct Answer:
Verified
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