In the modern world, many developing countries have agricultural economies where the amount of land and other resources is limited. Under these circumstances, rapid population growth ______.
a. should lead to steady economic growth
b. leads to innovation and higher standards of living
c. threatens sustained economic growth
d. discourages nations from adopting free trade
c. threatens sustained economic growth
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In the long run, the effect of a reduction in the money supply is to
A) decrease both the price level and real Gross Domestic Product (GDP). B) decrease real Gross Domestic Product (GDP) only. C) decrease the price level and increase real Gross Domestic Product (GDP). D) decrease the price level only.
The desired reserve ratio is 10 percent and banks have no excess reserves. Juliet deposits $300 in her bank. What is the maximum that Juliet's bank can now loan?
A) $3,000 B) $270 C) $30 D) $330 E) $300
If the market price falls from P0 to P1 in the above figure, then
A) a new equilibrium quantity is established. B) there is a shortage equal to the distance EF. C) there will be a further tendency for price to fall. D) there is a surplus of goods on the market equal to the distance Q1, Q2.
The concept of "random walk" applies most closely to predictions of
a. consumer demand for a product after a price increase. b. the effects of a tax on the supply of oil. c. the effects of transfer payments on labor supply. d. the price of a particular stock one year from now.