Thomas Robert Malthus said that
A. our population is growing faster than our food supply.
B. our food supply is growing faster than our population.
C. our food supply and our population are growing at the same rate.
A. our population is growing faster than our food supply.
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Suppose bad weather decreases the wheat harvest by 12 percent. If the price elasticity of demand for wheat is 0.6, how would the crop failure affect the price of wheat? Would the crop failure benefit or harm wheat farmers?
What will be an ideal response?
If market participants rely only past stock prices to forecast future stock prices,
A) they will be better able to forecast future price increases than future price decreases. B) they will be better able to forecast future price decreases than future price increases. C) they have adaptive expectations. D) they have rational expectations.
Consider the two graphs above. Suppose that businesses expect to hire more workers. This would ________ the desired level of the capital stock, as depicted in graph ________
A) increase; B B) increase; A C) decrease; B D) decrease; A
Fiscal policy may not be effective because it takes time for policymakers to realize that a policy change is needed, known as the ________ lag.
A. recognition B. implementation C. impact D. legislative