Historically, predictions of scarcity have been proven wrong because
a. the world population has unexpectedly decreased.
b. modern humans survive on much less food than those of past eras.
c. developed nations have consistently come to the aid of undeveloped nations.
d. agricultural and economic productivity have kept up with population growth.
d. agricultural and economic productivity have kept up with population growth.
Economics
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The relationship that implies that the nominal interest rate is equal to the real interest rate plus expected inflation is called the
A) exchange rate equation. B) Fisher equation. C) interest rate equation. D) term structure of interest rates.
Economics
Using Figure 6-2, calculate the price elasticity of demand (dropping all minus signs) between P = 4 and P = 6.
A. 3.0 B. 0.33 C. 0.40 D. 1.25
Economics