According to Thomas Malthus, the human race is doomed to suffer repeated famines and wars because
a. population and food supply both increase arithmetically
b. population and food supply both increase geometrically
c. population increases arithmetically while food supply increases geometrically
d. population increases geometrically while food supply increases arithmetically
e. population increases exponentially while food supply increases geometrically
D
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A decrease in the economy’s capacity utilization rate
a. tends to decrease the unemployment rate. b. tends to increase the unemployment rate. c. has no impact on the unemployment rate. d. tends to have an unpredictable effect on the unemployment rate.
The firm's demand curve and the industry's demand curve are identical in the _________ market structure(s)
a. monopoly b. oligopoly c. monopolistic competition d. perfect competition e. perfect competition and monopolistic
From the viewpoint of economic efficiency, when competitive forces in an industry are weak, market allocation will often lead to
a. an output of the product that exceeds the amount consistent with ideal economic efficiency. b. an output of the product that is less than the amount consistent with ideal economic efficiency. c. an output of the product that equals the amount consistent with ideal economic efficiency. d. product prices that are below the cost of production.
To obtain national income, start with GNP and subtract:
A. depreciation. B. depreciation and the statistical discrepancy. C. depreciation, indirect business taxes, and corporate profits. D. depreciation, indirect business taxes, corporate profits, and social insurance contributions.