Which of the following ideas were central to the conclusions drawn by Thomas Malthus in his 1798 "Essay on the Principle of Population"?
A) Short-run time period
B) Shortage of labor
C) Law of diminishing resource availability
D) Law of diminishing returns
D
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Graphically show a firm earning a profit; shade the appropriate profit rectangle. Explain how the profit formula represented by the rectangle is analogous to TR ? TC.
What will be an ideal response?
Which of the following can be stated as potentially true about any economy?
a. Its future location on its production possibilities frontier has no bearing on its current decisions. b. Increased supplies of the factors of production will only affect its current location on its production possibilities frontier. c. Increased supplies of the factors of production will cause its future location to expand inward. d. Its current choice of positions on its production possibilities frontier helps determine its future location.
The buying and selling of foreign currency by the central bank is a trade policy whose objective is:
A. reducing purchases of assets abroad. B. stabilizing the exchange rate against external shocks. C. stabilizing the interest rate against foreign capital outflows. D. promoting long term economic growth.
Which country is both one of the top markets for U.S. agricultural exports and the top supplier of agricultural imports to the United States?
A) South Korea B) China C) Mexico D) Varies by year.