Thomas Robert Malthus believed
A. that population growth was good for the world.
B. that food supplies would always be more than sufficient to feed the world's population.
C. that population growth would eventually lead to an increase in the quality of life for everyone.
D. that the world's population would eventually exceed the amount food supplies can support.
Answer: D
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People's skepticism about central bankers' announcements of their intentions stems from the fact that policymakers may act in a fashion that is time inconsistent
a. True b. False Indicate whether the statement is true or false
Bundle L contains 10 units of good X and 20 units of good Y. Bundle M contains 8 units of good X and 21 units of good Y. The consumer is indifferent between bundle L and bundle M. Assume that the consumer's preferences satisfy the four properties of indifference curves. Which of the following correctly expresses the marginal rate of substitution of good X for good Y between these two points?
a. The consumer will give up 1 unit of good X to gain 2 units of good Y. b. The consumer will give up 2 units of good X to gain 1 unit of good Y. c. The price of good X is twice as large as the price of good Y. d. The price of good X is half as large as the price of good Y.
Adam Smith noted in 1776 that
A. the wealth of nations comes from the money the nations have accumulated. B. the wealth of nations comes from the gold the nations have accumulated. C. the wealth of nations comes from the resources that produce the nation's goods and services. D. the problem of scarcity had been licked.
Which of the following is the largest contributor to the growth of labor productivity in the United States?
A. Technological advance. B. Education and training of labor. C. Economies of scale. D. Improved resource allocation.