The concerns about world food production raised by Malthus have not materialized because:
A) input prices have fallen over time.
B) crop prices have risen over time.
C) Malthus was wrong about the diminishing returns to labor in agriculture.
D) technological improvements have increased our ability to produce food over time.
D
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Refer to Figure 13-3. Suppose the economy is at point A. If government spending increases in the economy, where will the eventual long-run equilibrium be?
A) A B) B C) C D) D
Refer to Table 10-1. If Keegan can drink all the bubble tea he wants for free, how many glasses will he consume?
A) 4 glasses B) 5 glasses C) 6 glasses D) 7 glasses
Instruments which provide payments to holders of bonds in the event of default are known as ________
A) collateralized bond obligations B) tertiary payment devices C) credit default swaps D) mortgage-backed securities
The figure below shows an IS-LM-FE model for an economy with fixed exchange rates. Initially the economy was at Point A, a triple intersection. Here, the FE curve is flatter than the LM curve.
Assume that the economy was initially at Point A. Which of the following would have caused the economy to move to and remain at Point B?
A. Expansionary monetary policy with sterilization B. Expansionary monetary policy without sterilization C. Contractionary fiscal policy without sterilization D. Expansionary fiscal policy with sterilization