Discuss the interaction between economic growth and fertility.
What will be an ideal response?
As countries become richer, family sizes tend to shrink. Families have access to better medical care in rich nations and do not require as many children to provide for them as they age, reducing the incentive to have large families. Another reason that birth rates fall as nations become richer is that, as women achieve better access to education and jobs, their opportunity costs of raising children rise and fertility rates fall.
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Coffee is an example of a product that has been successfully labeled and marketed based on its production method or environmental protection
Indicate whether the statement is true or false
Monetarists assume that suppliers of labor
a. always have perfect information about the real wage. b. base their decisions on the expected real wage. c. may or may not know the real wage. d. could not possibly have perfect information.
Other things equal, a person with a cosmetician's certificate from a vocational school will earn $4,000 more per year than a person without one, starting the year the certificate is received. But after 6 years, the difference in income will disappear because styles have changed. If the interest rate is 5 percent (0.05) per year, what is the present value of having just received a certificate?
(Assume that each year's income is received at the end of the year.) a. $21,317.91 b. $24,000.00 c. $22,857.14 d. $19,379.92 e. It depends on the cost of acquiring the certificate
An example of an import of a service in the U.S. balance of payments would be when
A) an U.S. resident purchases a Japanese stereo. B) a Norwegian traveling in the United States rides a trolley car in San Francisco. C) a U.S. resident buying insurance from a firm in Toronto. D) a U.S. firm purchases 100 shares of a Dutch firm.