The hidden momentum of population growth is caused by
(a) the demographic transition.
(b) population age structure.
(c) the opportunity cost of a woman's time.
(d) children's contribution to income.
B
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Use the following information to answer the next question.Harvey quit his job at State University where he earned $45,000 a year. He figures his entrepreneurial talent or forgone entrepreneurial income to be $5,000 a year. To start the business, he cashed in $100,000 in bonds that earned 10% interest annually to buy a software company, Extreme Gaming. In the first year, the firm sold 11,000 units of software at $75 each. Of the $75, $55 goes for the costs of production, packaging, marketing, employee wages and benefits, and rent on a building. The explicit costs of Harvey's firm in the first year were
A. $655,000. B. $605,000. C. $825,000. D. $150,000.
A total cost curve shows the largest amount of a product a firm can produce with a minimum cost.
Answer the following statement true (T) or false (F)
An increase in labor demand accompanied by a decline in labor supply cannot result in a decline in wages.
Answer the following statement true (T) or false (F)
Why do firms pay dividends? It would appear that they are subject to double taxation, giving more incentive to eliminate them.
What will be an ideal response?