According to the text, studies of 18th century colonial demographics indicate that, compared to Europe,
a. the birthrate in the colonies was lower.
b. women in the colonies tended to marry later in life.
c. the child mortality rate in the colonies was lower.
d. average life expectancy for males in the colonies was lower.
e. All of the above.
c. the child mortality rate in the colonies was lower.
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Given the total cost and total revenue curves in the figure above, what is the profit-maximizing output level?
A) 30,000 bushels B) 60,000 bushels C) 80,000 bushels D) All output levels occur between 30,000 and 80,000 bushels are profit-maximizing output levels.
The velocity of money in circulation measures: a. the average length of time that people hold wealth
b. how fast aggregate spending will increase for a given decline in money demand. c. how fast inflation will rise for a given increase in the money supply. d. how quickly money changes hands. e. how quickly banks can create money.