Rapid population growth
a. was hailed by Thomas Robert Malthus as the key to future economic growth.
b. tends to lead to higher levels of educational attainment.
c. is the main reason that less developed nations are poor.
d. may depress economic prosperity by reducing the amount of capital which each worker has to work with.
d
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Which of the following is not held constant along a demand curve for labor by a firm?
a. the firm's technology of production b. the price of the firm's output c. the marginal product of labor for the firm d. the price of substitutes for the firm's output
Assume that a consumer purchases two products and the consumer's money income increases. All other things equal, the most likely effect is:
A. no change in the consumer's buying pattern. B. an inward shift in the budget line because the consumer can now purchase less of both products. C. an outward shift in the production possibilities curve because the consumer can now satisfy more wants. D. an outward shift in the budget line because the consumer can now purchase more of both products.