This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the figure above, if the quantity of yogurt produced increases from 2 gallons an hour to 3 ... (Read 35 times)

mia

  • Hero Member
  • *****
  • Posts: 564
on: Jun 29, 2018
In the figure above, if the quantity of yogurt produced increases from 2 gallons an hour to 3 gallons an hour, the opportunity cost of a gallon of yogurt in terms of ice cream is
 
  A) half a gallon.
  B) 1 gallon.
  C) 3 gallons.
  D) 4 gallons.

Question 2

What are the basic arguments of the classical growth theory?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

mistyjohnson

  • Sr. Member
  • ****
  • Posts: 331
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

The classical growth theory originated during the late 18th century. Although proposed by many leading economists of the time, it has most often associated with Malthus. The classical theory states that economic growth will be temporary. The reason why the growth is temporary is because any economic growth will lead to a population explosion. The growth in population increases labor hours, which lead to a reduction in capital per labor hour. Productivity declines until real GDP per person falls to the subsistence level where life is just sustained. At this point, economic growth ceases.


mia

  • Member
  • Posts: 564
Reply 2 on: Jun 29, 2018
Gracias!

lindahyatt42

  • Member
  • Posts: 322
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

« previous next »
 

Did you know?

HIV testing reach is still limited. An estimated 40% of people with HIV (more than 14 million) remain undiagnosed and do not know their infection status.

Did you know?

Glaucoma is a leading cause of blindness. As of yet, there is no cure. Everyone is at risk, and there may be no warning signs. It is six to eight times more common in African Americans than in whites. The best and most effective way to detect glaucoma is to receive a dilated eye examination.

Did you know?

Normal urine is sterile. It contains fluids, salts, and waste products. It is free of bacteria, viruses, and fungi.

Did you know?

In the United States, an estimated 50 million unnecessary antibiotics are prescribed for viral respiratory infections.

Did you know?

It is widely believed that giving a daily oral dose of aspirin to heart attack patients improves their chances of survival because the aspirin blocks the formation of new blood clots.

Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages Demonstrate the Application of Triangular, Figure-Eight, and Tubular Bandages
This red gasoline container holds about 30 gallons of gasoline and is used to fill vehicles used ... This red gasoline container holds about 30 gallons of gasoline and is used to fill vehicles used ...
Joint movement of the fingers. Apply scissoring at the knuckles and figure-8s to the fingers to ... Joint movement of the fingers. Apply scissoring at the knuckles and figure-8s to the fingers to ...
Figure of a Woman with a Drawing Showing Evidence of Original Painting and Outlining Design Scheme Figure of a Woman with a Drawing Showing Evidence of Original Painting and Outlining Design Scheme
Beak size in finches during dry years increases because of strong selection Beak size in finches during dry years increases because of strong selection
Figure 2.15.jpg Figure 2.15.jpg
Video: Second Messengers in the Inositol-lipid Signaling Pathway

For a complete list of videos, visit our video library