It can be argued that Thomas Malthus' An Essay on the Principle of Population statement that population growth will always outstrip food production has been discredited due to
A. an increase in the world-wide farming population.
B. less world-wide food consumption.
C. a reduction in resource scarcity.
D. improvement in technology of food production.
Answer: D
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Refer to the figure above. What is the consumer surplus before Lithasia opens up to free trade?
A) $3 B) $12 C) $18 D) $22
Which of the following is a property of a public good?
a. It is established by legislation. b. Free riders are excluded. c. Users collectively consume benefits. d. It is determined by positive economics.
Suppose two demand curves intersect and so have a point in common. At that point, demand shown by the steeper curve will be ________ the flatter curve.
A. as elastic as B. more likely to be unit elastic than C. more elastic than D. less elastic than
Which of the following is included in GDP?
a. the market value of rental housing services, but not the market value of owner-occupied housing services. b. the market value of owner-occupied housing services, but not the market value of rental housing services c. both the market value of rental housing services and the market value of owner-occupied housing services d. neither the market value of owner-occupied housing services nor the market value of rental housing services.