Which is true?
a. China implemented a one child/one family policy in order to limit population growth. Country leaders realized that the country's resources would not be sufficient for a growing population
b. when a country's population rises faster than its output of goods and services the average citizen will be worse off
c. economists believe that the best method that a country can employ to reduce population growth is to provide women with more educational and career opportunities
d. all
Ans: d. all
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If demand is given by Q = Ap-b where A and b are positive constants, the absolute value of price elasticity of demand
A) = b. B) = A. C) = A/b. D) depends on the price.
The concept that it is very difficult to consistently pick winners in the stock market without inside information is known as: a. a random walk
b. a double coincidence of wants. c. the crowding out effect. d. arbitrage.
Which of the following would tend to increase the value of officially measured GDP?
a. decriminalization of drugs such as marijuana and cocaine b. decriminalization of prostitution c. decriminalization of gambling on basketball and football d. all of the above
Macroeconomics involves the study of the decision-making of individual firms or individuals.
Answer the following statement true (T) or false (F)