If a rapidly growing population is one of the major problems facing LDCs, explain why a decrease in mortality rates is desirable, from an economic standpoint
A decrease in the mortality rate is desirable because it is associated with an increase in health that will raise
labor productivity and help pull the country out of poverty. A decrease in the mortality rate will also mean
growth of the percentage of the population that is able to produce more than they consume, allowing per
capita incomes to rise.
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Spending (Aggregate Demand or AD)
What will be an ideal response?
A market supply curve is determined by
a. vertically summing individual supply curves. b. horizontally summing individual supply curves. c. finding the average quantity supplied by sellers at each possible price. d. finding the average price at which sellers are willing and able to sell a particular quantity of the good.
Which of the following is not a withdrawal (leakage) from the circular flow of income?
(a) Net Saving; (b) Net Taxes; (c) Expenditure on Imports; (d) Expenditure on exports.
Jason receives $20,000 per year from the federal government because he is disabled. This is a
A. free rider problem. B. demerit good. C. transfer payment. D. non-rival good.