The population theory of Thomas Malthus
(a) would have predicted the changes in per output in this country in the
19th century and up to 1910.
(b) would lead you to expect a powerful surge in physical output as
the immigration poured in.
(c) would not have predicted the positive trend increase in per capita
output and income in 1860–1910.
(d) does not apply to any of the above.
(c)
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Two goods are substitutes when
A) an increase in the price of one reduces the demand for the other. B) an increase in the price of one raises the demand for the other. C) the two goods are used together. D) the two goods have the same price.
Suppose you order a slice of pepperoni pizza and a soda at a shopping mall food court. What are examples of the opportunity costs of this decision?
What will be an ideal response?