Thomas Malthus's predictions turned out to be wrong due to
a. technological advances such as those during the Industrial Revolution.
b. smaller populations now than in the time of Malthus.
c. the effects of brain-drain.
d. unlimited natural resources.
a
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Economists claim that measuring society's welfare as CS + PS
A) is inappropriate since ultimately everyone is a consumer. B) is valid only when the same person could be either a consumer or a producer. C) treats the gains to consumers and producers equally. D) is not commonly accepted.
Loopholes reduce the efficiency of the tax system.
Answer the following statement true (T) or false (F)
Economists refer to expenditures on training, education, and skill development designed to increase the productivity of an individual as
a. overhead expenditures. b. investments in human capital. c. non-exhaustive expenditures. d. social capital.
How does the increasing use of digital cameras affect the market for traditional camera film?
A) The demand curve for traditional camera film shifts to the right. B) The quantity of traditional camera film demanded decreases. C) The quantity of traditional camera film demanded increases. D) The demand curve for traditional camera film shifts to the left.