In a Malthusian world, why is misery recurrent?
A) The marginal returns of capital are decreasing.
B) Fertility is endogenous.
C) Output is increasing in labor.
D) Mortality depends on the standard of living.
D
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The price elasticity of supply when the supply curve is Q = 5 is
A) 5. B) perfectly inelastic. C) perfectly elastic. D) Cannot be calculated from the information provided.
Suppose Congress institutes an investment tax credit. What would happen in the market for loanable funds?
a. The interest rate and investment would fall. b. The interest rate and investment would rise. c. The interest rate would rise and investment would fall. d. None of the above is necessarily correct.
Which of the following is true concerning IRA's, 401(k) and 403(b) plans?
a. There are no limits on the amount of funds people can hold in them. b. Some people are not eligible to hold them. c. There are never penalties for withdrawals. d. All of the above are correct.
Which of the following correctly ranks personal consumption, government consumption and investment, and nonresidential investment in order from greatest to least for the U.S. in 2015?
A. Government consumption and investment, nonresidential investment, personal consumption B. Personal consumption, nonresidential investment, government consumption and investment C. Personal consumption, government consumption and investment, nonresidential investment D. Government consumption and investment, personal consumption, nonresidential investment