According to the Reverend Thomas Malthus
A. population tends to grow until checked by a shortage of food.
B. population tends to grow until checked by a shortage of oxygen.
C. population tends to grow unless checked by religious or moral restraints.
D. economics is a dismal science.
A. population tends to grow until checked by a shortage of food.
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Capital refers to an inventory or a stock of productive equipment and machines
a. True b. False Indicate whether the statement is true or false
Since externalities tend to keep markets from reaching a socially optimal equilibrium, government action
a. is always needed because private solutions can never be attained. b. is needed when private solutions fail to arise. c. will be needed only to correct for positive externalities. d. will be needed only to correct for negative externalities.
If we were to observe above-equilibrium wages in a particular labor market, then a possible explanation might be that
a. the theory of efficiency wages holds true for that market. b. there is a powerful labor union representing workers in that market. c. workers are largely unskilled and/or inexperienced and minimum-wage laws are effectively holding wages up in that market. d. All of the above are correct.
Which one of the following would count as investment in the national income accounts?
What will be an ideal response?