What is meant by demographic transition? How is it responsible for modern growth?
What will be an ideal response?
Demographic transition refers to the decline in fertility and number of children per family that many societies undergo as they transition from agriculture to industry. Demographic transition is a central ingredient to modern growth because it enabled the economies that experienced reduced fertility to break away from the Malthusian cycle of sustained low GDP per capita.
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All else equal, as the price of oil falls, potential profits from producing oil ________ which ________ oil companies to look for additional sources of oil
A) increase; encourages B) increase; discourages C) decrease; encourages D) decrease; discourages
Economic theory suggests that the standard of living of American workers would fall if the
a. United States had more natural resources. b. knowledge and skills of workers improved, reducing the need for workers. c. productivity of American workers declined. d. United States turned to more automated methods of production.
Investment spending includes spending on:
A. capital goods, residential housing, and changes in inventories. B. goods and services by federal, state, and local governments. C. durables, nondurables, and services. D. stocks, bonds, and other financial instruments.
If DI falls by $100 billion, and C falls by $90 billion, the slope of the consumption is
A. ?0.45. B. 0.45. C. ?0.90. D. 0.90. E. 0.50.