The standard of living rises when population growth exceeds economic growth.
Answer the following statement true (T) or false (F)
False
If population is growing faster than output, this means that productivity and GDP per capita is falling and thereby standard of living is falling.
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Other things being equal, what is the effect of deficit spending on credit markets?
A) The supply of credit will increase while the demand for credit remains the same. B) The demand for credit increases while the supply of credit remains constant. C) Both the demand for credit and the supply of credit will decrease. D) Both the demand for credit and the supply of credit will increase.
Which of the following statements reflect the primary change in the mortgage market that played the major role in creating the housing crises in 2007 through 2009?
A. low interest in the mid 2000's. B. adjustable rate mortgages to low income citizens with low credit scores. C. the large increase in interest rates in 2007. D. the reduction in newly constructed housing.
If a player has a dominant strategy, that player will always win the game.
Answer the following statement true (T) or false (F)
An industry that realizes such large economies of scale in producing its product that single-firm production of that good or service is most efficient is called a(n)
A. fixed cost monopoly. B. patent monopoly. C. economies of scale monopoly. D. natural monopoly.