Malthus's gloomy economic outlook for humankind is based on the following principle:
a. Population, when unchecked, increases at a faster pace than the production of output
b. Population grows at a slower pace than the production of output.
c. Resources grow faster than humankind can reproduce itself. Therefore, humankind can never take full advantage of available resources.
d. Resources and population grow at constant percentage rates, but political divisions prevent an equitable division of world output.
a
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Which of the following would be considered the least liquid asset?
A) shares of stock B) travelers checks C) currency D) checkable deposits
Debit cards are
A) counted as money because they perform the medium of exchange function of money. B) not considered money because they merely show that their owners have a relationship to money. C) are counted as a part of M2 but not M1. D) counted as money because they provide access to their owners' checkable deposits.