Rapid population growth can be an obstacle to economic development:
A. because it can translate a relatively large increase in real output into a small increase in
real output per capita.
B. because more investment will be required to simply maintain the quantity of capital goods
per person.
C. because it may lead to the overutilization and therefore ecological degradation of farmland.
D. for all of these reasons.
D. for all of these reasons.
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In 2006, before the start of the recession, the employment-population ratio was 63.4 percent. In August 2015, more than six years after the end of the recession, the ratio
A) was still 50 percent lower than the ratio in 2006. B) had increased to 72.3 percent. C) was still only 59.4 percent. D) was back to its 2006 level.
The real wage is equal to the:
a. wage measured in terms of the quantity of goods and services it buys b. wage measured in terms of the dollar value of the goods and services it buys. c. nominal wage net of taxes paid on wages. d. non-wage benefits received by workers. e. product of the nominal wage and the price level.