Answer the following statement true (T) or false (F)
1) Human beings consume more both in absolute terms and on a per capita basis than they did
200 years ago.
2) Thomas Malthus argued that increases in living standards tend to reduce birthrates.
3) A total fertility rate of 1.0 is necessary to keep the population constant over time.
4) Most developed countries have fertility rates less than 2.1.
1) T
2) F
3) F
4) T
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How much of each dollar spent by a consumer ultimately becomes income to someone else?
A) less than one dollar B) It depends on how much the cost there is in the distribution channel that delivers the good from the manufacturer to the consumer. C) It depends on how much labor was needed to produce the good that the consumer buys. D) one dollar
Which of the following industries most closely approximates the oligopoly model?
a. dry cleaning b. fast food c. automobile manufacturing d. agricultural produce