If urbanization in a nation keeps increasing, GDP per capita in the nation is likely to:
A) initially increase then decrease after urbanization reaches a certain threshold.
B) keep decreasing.
C) initially decrease then increase after urbanization reaches a certain threshold.
D) keep increasing.
D
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When efficiency is attained, the consumer surplus
A) must be larger than the producer surplus. B) must be smaller than the producer surplus. C) must equal the producer surplus. D) can be either smaller than or larger than but cannot equal the producer surplus. E) can be smaller than, equal to, or larger than the producer surplus.
Which of the following is blamed for the lack of increased business investment spending on new factories and machinery during the 1930s?
(a) The new presence of government's large-scale economic activity caused business to lose some of its former confidence. (b) The general outlook stressed caution. (c) A much lower rate of population growth and family creation depressed the housing market. (d) All of the above.