Thomas Malthus was an early nineteenth-century economist that created a model describing the relationship between:
A. population growth and war.
B. population growth and birth control.
C. population growth and crime.
D. population growth and food production.
D. population growth and food production.
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Rank the following goods from least to most elastic: high octane unleaded gasoline, unleaded gasoline, gasoline
A) High octane unleaded gasoline, unleaded gasoline, gasoline B) High octane unleaded gasoline, gasoline, unleaded gasoline C) Unleaded gasoline, high octane unleaded gasoline, gasoline D) Gasoline, unleaded gasoline, high octane unleaded gasoline E) None of the above.
It is difficult for competent authorities to agree on the best definition of the money stock because money is composed primarily of the liquid liabilities of financial institutions
A) and liquidity implies the absence of certainty. B) of which there are many different kinds whose relative liquidity is continually changing. C) on which we simply have no reliable data. D) whose solvency is highly questionable.
Marginal cost is best defined as
A) the extra cost of producing one more unit of output. B) the profit earned from selling one more unit of output. C) the price received from selling one more unit of output. D) equal to producer surplus.
Which of the following statements is true?
A. The use of 2SLS is applicable to simultaneous equations model with at most two equations. B. Identification of simultaneous equations with three or more equations is based on matrix algebra. C. 2SLS method used in the estimation of simultaneous equations is an example of a system estimation method. D. The maximum number of equations permissible for a simultaneous equations model is four.