According to Malthusian population theory,
A. the world's food supply increases geometrically.
B. the world's population tends to grow geometrically.
C. a psychological standard of living regulates population growth.
D. population growth is an unimportant determinant of standards of living.
B. the world's population tends to grow geometrically.
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Assuming seigniorage equals zero, the federal debt is ________ and the budget deficit is ________
A) a flow variable representing the total value of government bonds outstanding; a stock variable representing the yearly increase in value of newly issued government bonds B) a stock variable representing the total value of government bonds outstanding; a flow variable representing the yearly increase in value of newly issued government bonds C) a flow variable representing the yearly increase in value of newly issued government bonds; a stock variable representing the total value of government bonds outstanding D) a stock variable representing the yearly increase in value of newly issued government bonds; a flow variable representing the total value of government bonds outstanding
If Bob's business earned a $500,000 accounting profit, but had $1,000,000 in implicit costs, it would earn an economic profit
a. True b. False Indicate whether the statement is true or false
Economic theory implies that the incentive for a manager of a publicly operated firm (for example, a state university or the post office) to promote internal efficiency of their operations would be
a. strong because inefficiency is easily detected and leads to the loss of voter support. b. strong because public officials are unconcerned about personal gain. c. weak because government employees are less educated than employees who work in the private sector. d. weak because it is difficult for voters to detect inefficiency and for public officials to gain from actions that would improve the efficiency of government.
In the Tragedy of the Commons, joint action among the individual citizens would be necessary to solve their common resource problem unless the government intervenes
a. True b. False Indicate whether the statement is true or false