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Economics (952)
Lecture

Chapter 22 Lecture Continued.docx

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Department
Economics
Course
Economics 1022A/B
Professor
Jeannie Gillmore
Semester
Winter

Description
RealwageratemoneywagerateCPICPIratherthanGDPdeflatorpertainsmoretowhatwethelabourprovidersspendourmoneyonClassicalgrowththeorycauseseconomicstobereferredtoasdismalscienceoAnyeconomicgrowthistemporaryoWhenstandardoflivingrisesapopulationexplosionoccurswhichreturnstheeconomytoasubsistenceonlyhaveenoughmoneytoeathaveaminimalistichouseclothingexistenceoMalthusiantheoryoSubsistencewagerateis15hourRGDPlabourhoursWhenRGDPhouroflabourrisesabove15hourpopulationgrowsAndwhenRGDPperhouroflabourf
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