According to the Malthusian prediction in the long run:
a. growth in real output of an economy would eventually become negative.
b. growth in real output of an economy will eventually reach a stable level.
c. scarcity would be completely eliminated
d. poverty would be completely eliminated.
a
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In an open economy, the law of one price implies that
A) the domestic economy may have a comparative advantage in only half the goods it produces. B) perfect competition holds in all domestic markets. C) purchasing power parity should hold. D) the nominal exchange rate should equal one.
A corporation with “plowback”
A. deliberately earns negative profit on some activities in order to get better tax treatment. B. buys back shares of its stock from shareholders. C. retains some of its earnings for investment. D. issues unsecured stock.
Suppose the market price of a good X is below the equilibrium price. The result is a shortage and sellers can be expected to decrease the quantity of that good X supplied
a. True b. False Indicate whether the statement is true or false
A process through which a firm seeks to obtain earnings without contributing to production, thus wasting valuable resources, is known as
a. moral hazard. b. rent seeking. c. detrimental externality. d. a defective telescopic faculty.