In a Malthusian world, what would improve the standard of living temporarily?
A) a war
B) a new virus
C) birth control
D) democracy
A
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What will be an ideal response?
Refer to Figure 4-3. Kendra's marginal benefit from consuming the second ice cream cone is
A) $6.50. B) $6.00. C) $3.00. D) $2.25.
While the world was fairly integrated at the turn of the last century, most trade was in agricultural and raw materials, whereas today manufactured consumer and producer goods play a much greater role in determining exports and imports
Indicate whether the statement is true or false
Assume that consumption spending is equal to $600, government spending is $100 billion, and GDP is $800 billion. If net exports are equal to zero, investment spending must be
A) $700 billion. B) $600 billion. C) $500 billion. D) $100 billion.