Category: Economics

Why did Malthus believe that checks on population growth are necessary?
Group of answer choices
To allow more technological advancements
To stop families from having more than one child
To maintain a balance between population size and food supply
To ensure constant economic growth for wealthy nations

The following utility function is provided for changes in assets (i.e., x = change in monetary payoffs).
u(x) = 1 – e
-x/100
for -1000 ≤ x ≤ 1000
Determine if the decision maker should take a bet in which they will win $100 with probability p and $50 with probability (1-p).
p = 1/2
p = 2/3

Which of the following is true about marginal cost?
a. It is the additional cost of producing one more unit of output.
b. It is the total cost of producing all units of output.
c. It is the average cost of producing all units of output.
d. It is the difference between total revenue and total cost

Short run speculation in currencies can create ________________________, at least for a time, where an expected appreciation leads to a stronger currency and vice versa.
Question 41 options:
1) low inflation rates
2) high inflation rates
3) a self-fulfilling prophecy
4) a decrease in the supply side

Which of the following are the predictable effects of a binding price floor? (Check all that apply.)Deadweight lossShortagesSellers allocating goods by some other mechanism than priceIncreased consumer welfareGreater difficulty for sellers to find customersSurplusesIncreased allocative efficiency
Deadweight loss
Shortages
Sellers allocating goods by some other mechanism than price
Increased consumer welfare
Greater difficulty for sellers to find customers
Surpluses
Increased allocative efficiency

If a nation’s goods exports are $55 billion, while its goods imports are $50 billion, we can conclude with certainty that this nation has a
positive balance on its current account.
positive balance on goods and services.
balance of payments surplus.
balance of trade on goods surplus.

Self-interest is the mechanism that can remedy this shortcoming. Said Smith: “It is not from the benevolence of the butcher, the brewer, or the baker, that we can expect our dinner, but from their regard to their own interest”– Buyers want ­­­­____________ – Sellers want to __________

Notices regarding any hazardous physical agents must be:
written in French and English, and demonstrate clarity of symbols.
Should describe the chemical symbols of the thing.
Should outline measures of protection.
written in English and whatever appropriate languages are prescribed.