If an epidemic hits a Malthusian economy, the long-term consequence is
A) an increase in the standard of living.
B) a reduction in the standard of living.
C) no change in the standard of living.
D) dependent on the population growth rate.
C
Economics
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The circular flow model demonstrates
A) the role of the government in overseeing the market system. B) the roles played by households and firms in the market system. C) how demand and supply for goods and services are brought into equilibrium. D) how shortages and surpluses are eliminated in a market.
Economics
Which of the following indicates that the U.S. economy has become more stable since 1950?
A) less severe fluctuations in real GDP B) longer recessions C) shorter expansions D) All of the above indicate that the U.S. economy has become more stable since 1950.
Economics