Thomas Malthus's model made the mistake of failing to consider:
A. comparative advantage.
B. scarcity.
C. technological progress.
D. inflation.
Answer: C
Economics
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Congress has ratified
A. both NAFTA and GATT. B. neither NAFTA nor GATT. C. NAFTA, but not GATT. D. GATT, but not NAFTA.
Economics
Refer to the above table. The multiplier in this economy is:
Answer the following question based on the table below which illustrates the multiplier process resulting from an autonomous increase in investment by $5.
A. 2
B. 3
C. 4
D. 5
Economics
Changes in nominal GDP only reflect changes in production while changes in real GDP include changes in both production and prices
Indicate whether the statement is true or false
Economics
What is the relevance of the marginal productivity principle in explaining the use of inputs in production?
Economics