Question

According to Michael Kremer, large populations: a. require the capital stock to be spread thinly, thereby reducing living standards b. place great strains on an economy's productive resources, resulting in perpetual poverty c. are a prerequisite for technological advances and higher living standards d. are not a factor in determining living standards

Answer 1

According to Michael Kremer, large populations c. are a prerequisite for technological advances and higher living standards.

Who is Michael Kremer?

Michael Kremer is an American development economist and a Nobel Prize winner for developing an innovative economic theory for poverty alleviation, especially in large populations.

Michael Kremer did not think that large populations disadvantaged the nation, but it could be a factor in increasing the living standards through technological advances.

Thus, according to Michael Kremer, large populations c. are a prerequisite for technological advances and higher living standards.

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