Author Question: Thomas Malthus (1766-1834) and other Classical economists predicted that the pressure of more and ... (Read 47 times)

urmomsucks · **on:** Oct 12, 2022

Question 1

Economists collect and analyze data on output per worker and output per hour of work. What are they trying to measure by doing so?
◦ diminishing marginal returns
◦ the ratio of marginal products of factors
◦ returns to scale
◦ productivity
◦ the principle of substitution

Question 2

Thomas Malthus (1766-1834) and other Classical economists predicted that the pressure of more and more people on the world's limited resources would cause
◦ population decline.
◦ a decline in output per person.
◦ a higher standard of living.
◦ improved productivity.
◦ increasing returns of labour.

KeriJennin · **Reply #1 on:** Oct 12, 2022

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