Thomas Malthus believed that in the long run, the growth rates of real GDP would not exceed population growth
a. True
b. False
Indicate whether the statement is true or false
True
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An increase in demand for housing will reduce the availability of land for cultivation
a. True b. False Indicate whether the statement is true or false
If the United States decides to trade with Yemen, we know that
a. Yemen will benefit, but trade with a less developed country could not benefit the United States. b. it will not benefit Yemen because workers in the United States are more productive. c. Yemen and the United States can both benefit. d. it will not benefit either country because their cultural differences are too vast.
Park rangers at Yellowstone National Park are known to have low wages. This is probably because
a. park rangers are required to be college graduates. b. park rangers don't need much money to live. c. park ranger jobs are perceived to be dangerous. d. park ranger jobs are perceived to be "fun."
Suppose the price elasticity of demand for a product is 1.3 . If a supplier wants to increase revenue, what change should it make to price, if any?