Both Malthus and Ricardo erred in expecting an eventual termination of economic growth by
A) neglecting the potential for population control.
B) believing that the law of diminishing marginal returns applies solely to land.
C) assuming a constant marginal productivity of labor.
D) neglecting the role of the credit system.
E) underestimating the extent and impact of technological change.
Correct Answer:
Verified
Q29: The dire predictions of the 1974 Club
Q30: The marginal product of capital decreases because
Q31: The purpose of the British Corn Laws
Q32: If a society attempts to increase output
Q33: The following question are based on the
Q35: Ricardo,in his work on income distribution,emphasized the
Q36: The Club of Rome study was concerned
Q37: Holding technology constant,increases in investment in plant
Q38: Improvements in agricultural technology will
A) raise the
Q39: The Malthusian forecast that population growth would
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents