Thomas Malthus's model made the mistake of failing to consider:
A. technological progress.
B. inflation.
C. comparative advantage.
D. scarcity.
A. technological progress.
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What effect has the presence of federal deposit insurance had on the banking industry?
A) Banks have made it more difficult for customers to qualify for loans. B) Depositors have become more vigilant in monitoring the decisions made by managers of their banks. C) Banks have made riskier loans. D) Banks now hold more excess reserves.
Monetary policy refers to the actions the Federal Reserve takes to manage
A) the money supply and income tax rates to pursue its economic objectives. B) government spending and income tax rates to pursue its economic objectives. C) income tax rates and interest rates to pursue its economic objectives. D) the money supply and interest rates to pursue its economic objectives.
If income elasticity is positive, a product is inferior
Indicate whether the statement is true or false
Suppose the production function is given by Q = K1/2L1/2, and that Q = 30 and K = 25. How much labor is employed by the firm?
A. 6 B. 36 C. 25 D. 49