A perfectly competitive firm has no control over the price that it charges.
Answer the following statement true (T) or false (F)
True
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Assume the following situation. In year 1, a $400 capital stock generates a $100 GDP. One-fifth, or $20 of the $100 GDP, is put into investment. Assuming a constant capital/output ratio and no depreciation, the capital stock in year 2 is
a. 400 b. 420 c. 440 d. 500 e. 800
Give an example that shows price inelasticity of supply. Avoid using examples from the text.
What will be an ideal response?
From World War II through 2017, the United States experienced ________ recessions.
A. 2 B. 5 C. 11 D. 15
The demographic transition view of population growth argues that, on average (and as perceived by parents), the marginal:
A. benefits of extra children are larger in IACs than in DVCs. B. costs of extra children are lower in IACs than in DVCs. C. costs of extra children are larger in IACs than in DVCs. D. benefits of extra children are the same in DVCs and IACs.