Rural families were larger in size, on average, than urban families during the antebellum period. Some argue that the relatively high rate of return on a child born on a farm partly explains why
Children born on farms could be considered investments goods—"goods" used to produce something else. Indicate whether the statement is true or false
True
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When the demand for money depends only on real income, the resulting ________ LM curve causes fiscal policy to have a ________ effect on income
A) vertical, very strong B) vertical, zero C) horizontal, very strong D) horizontal, zero
Which of the following statements correctly characterizes the problem with comparing production outcomes that are stocks and flows?
A) Labor usage is always a flow, which makes it difficult to compare with stock inputs like capital. B) Most capital inputs are stocks, but the returns on these investments (profits) occur as a flow. C) Most capital inputs are flows, but economists treat these expenditures as stocks by using the opportunity or economic costs associated with these inputs. D) Business returns or profits may be equivalently viewed as stocks or flows, which makes it difficult to compare the returns with the input expenditures.