Describe the three-step shift known as the demographic transition
What will be an ideal response?
The three-step shift known as the demographic transition tracks the words population from the 1800s to present day. (1) The traditional situation of simultaneously high birth and death rates, women have to give birth to many children per lifetime just to ensure, on average, that two will survive. (2) Next is a transition period of high birth rates and low death rates, causing a temporary population explosion because parents are unaware of the change in death rates. (3) Finally, the current situation of simultaneously low birth and death rates, the death rates have been made aware to parents and families no longer need to plan on having a large number of children to maintain an average of two.
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The above figure presents the view of the economy according to
A) Keynesian economics. B) classical economics. C) microanalysis. D) Ricardian economics.
Who is likely to earn a higher income, dentists or dental hygienists, and why?
a. dental hygienists because their education is less costly b. dentists because their education is less costly c. dental hygienists because their education is more costly d. dentists because their education is more costly e. neither; they usually earn the same wage rate
The quantity produced by a natural monopolist facing an average-cost pricing policy will be:
A. less than the quantity produced by a marginal cost pricing policy. B. that quantity at which average costs are at their minimum. C. that quantity at which marginal costs are at their minimum. D. the same as the quantity that would be produced in perfect competition.
Economists see a useful service being performed by ticket scalpers, in that they
A. adjust a price that a promoter has set too high. B. lower the price to all consumers. C. raise the price so promoters get more money. D. adjust a price that a promoter has set too low.