In making the "Malthusian Prediction," Reverend Malthus assumed that:
a. technological advance would be rapid; the supply of capital was unlimited; birth control techniques would limit population growth.
b. there would be little if any technological advance; the supply of capital was fixed; birth control techniques would limit population growth.
c. the supply of land was fixed in quantity; there would be little if any technological advance; the sexual desires of humans would work to increase production.
d. the supply of land was fixed in quantity; technological advances would be rapid; the sexual desire of humans would lead to rapid population growth.
c
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If the percentage increase in price is 15 percent and the value of the price elasticity of demand is -3, then quantity demanded
A) will increase by 5 percent. B) will decrease by 5 percent. C) will increase by 45 percent. D) will decrease by 45 percent.
With consumption goods measured on the vertical and capital goods measured on the horizontal axis of a production possibilities curve, for Ethiopia to increase its future economic growth, it must choose a point that is
a. inside the curve b. further away from the origin on the horizontal axis c. further away from the origin on the vertical axis d. outside the curve e. closer to the origin on the horizontal axis