During the recent past, production and income have grown faster than population in highly developed economies because
A. of the availability of expensive and ineffective birth control devices.
B. of rapid technological advancements.
C. accumulation of both physical and human capital has slowed down.
D. famine, war, and pestilence have greatly reduced the population.
B. of rapid technological advancements.
Economics
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Refer to Figure 7-1. The efficient equilibrium price is
A) $30. B) $25. C) $20. D) <$20.
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The demand for mansions is elastic because a small percentage change in price results in a large change in quantity demanded
a. True b. False Indicate whether the statement is true or false
Economics