State the predictions about world population growth offered by demographers and explain the basis on which they are made
What will be an ideal response?
Demographers find that the world population growth is slowing and turning negative in many nations. Many demographers think that the world’s population will only rise to fewer than 9 billion people by mid-century and then decline rapidly. This estimate is based on a replacement rate of 2.1 births per woman per lifetime. If the total fertility rate falls to 1.3 births, this means that a country’s population will fall by half in just under 45 years.
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When deriving an Engel curve, the prices of both goods
A) are held constant. B) increase by the same percentage as income. C) decrease by the same percentage as income. D) can either decrease, increase or stay the same.
If the fixed costs are relatively large, a relatively good approximation to the correct transfer price is
a. average costs b. average fixed costs c. average variable costs d. the market price