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A lower population growth will eventually lead to higher living standards(GDP per capital) comment on the...

A lower population growth will eventually lead to higher living standards(GDP per capital) comment on the above statement by considering the neoclassical growth model.

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Neoclassical growth model outlines the three necessary factors for the growth of an economy. These are capital, labor, and technology. Although an economy has limited resources in terms of labor and capital, the technology contribution to growth is boundless. The living standard increases (decreases) when growth of economy (which means the rate of growth of real GDP) exceeds (falls below) the growth rate of population. With a higher rate in growth of of population, a country has a much lower steady state. Conditional convergence indicates every nation converges to its own unique steady state. The nations which are are close to their unique steady state will slowly grow and those that are far away will rapidly grow

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