Which statement about population growth is true?
a. How wealthy a country is has little impact on its population growth rate.
b. A high population growth is just one possible explanation for declining standards of living.
c. Population growth is naturally followed by greater economic growth.
d. Population growth has no impact on economic growth or standards of living.
b. A high population growth is just one possible explanation for declining standards of living.
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Suppose that producers are richer than consumers. Is a price support program fair? Explain your answer
What will be an ideal response?
Refer to Table 12-1. What is the fixed cost of production?
A) $0 B) $500 C) $1,000 D) It cannot be determined.
Why is a point below the production possibilities curve less efficient than a point on that curve?
What will be an ideal response?
Use the graph to answer the following question:
Suppose the economy is in equilibrium at point B which is below the full-employment output of point D. If the government implements fiscal policy targeted at moving real GDP back to point D, but crowding out significantly reduces the effectiveness of the fiscal policy, the equilibrium point will likely end up closer to point
A. A. B. B. C. C. D. D.