Of the following, which best explains why Thomas Malthus was incorrect in his prediction that population would outstrip food supplies?
A) Malthus failed to realize that that human population would increase considerably.
B) Malthus failed to recognize that economic growth is accompanied by smaller family sizes.
C) Malthus incorrectly believed that economic growth would reduce birthrates.
D) Malthus incorrectly predicted that modernization would increase the demand for children.
B
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During 2005, the tax rate on the top income bracket in the U.S. tax system was _____
a. 28 percent b. 31 percent c. 35 percent d. 39 percent
The above figure shows the market for crude oil. If a consumer group convinces the government to set a maximum price of $2 per barrel, then
A) 300 barrels of crude oil will be sold at $2. B) zero barrels of crude oil will be sold. C) zero barrels of crude oil will be demanded. D) None of the above.
Most real world economies are mixed economies
a. True b. False Indicate whether the statement is true or false
Resources tend to be allocated inefficiently when goods
a. are private goods. b. are rival in consumption and excludable. c. are available free of charge. d. are available only at very high prices.