The Kremerian model on population growth:
a. contradicts the Thomas Malthus claim that higher population growth rate causes poverty. The model suggests that poverty causes population growth, and not the other way around.
b. provided additional empirical support to Thomas Malthus' claim that higher population growth rate causes poverty.
c. contradicts the Thomas Malthus claim that higher population growth rate causes poverty. The model suggests that world population growth and poverty are completely unrelated.
d. contradicts the Thomas Malthus claim that higher population growth rate causes poverty. The model suggests that world population growth is a key driver of advancing economic prosperity.
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Explain the Fed's countercyclical operations
Scarcity can best be defined as a situation in which:
A. there are no buyers willing to purchase what sellers have produced. B. there are not enough goods to satisfy all of the buyers' demand. C. the resources we use to produce goods and services are limited. D. there is more than enough money to satisfy consumers' wants.
Which of the following is NOT true about a certificate of convenience and public necessity?
A. It is issued by a government agency. B. It is a barrier to entry. C. It limits competition. D. It is a patent.
Answer the following questions true (T) or false (F)
1. In recent years, economists have come to rely more on the establishment survey rather than the household survey to analyze current labor market statistics. 2. The labor force participation rates of men have gradually increased since 1948. 3. Eliminating frictional unemployment would be good for the economy.