Economics

In a Malthusian world, why is misery recurrent?

In a Malthusian world, why is misery recurrent?

In a Malthusian world, why is misery recurrent?
A) Output is increasing in labor.
B) Fertility is endogenous.
C) The marginal returns of capital are decreasing.
D) Mortality depends on the standard of living.

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Gordis

The Malthusian model predicts that

The Malthusian model predicts that

The Malthusian model predicts that
A) population control improves the standard of living.
B) the standard of living will keep increasing.
C) health improvements increase the standard of living.
D) population will keep increasing.

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Gordis

In the Malthusian model, an improvement in the technology of growing food is likely to

In the Malthusian model, an improvement in the technology of growing food is likely to

In the Malthusian model, an improvement in the technology of growing food is likely to
A) increase the equilibrium size of the population and increase the equilibrium level of consumption per worker.
B) increase the equilibrium size of the

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Gordis

We can use a per-worker production function in the Malthusian model because

We can use a per-worker production function in the Malthusian model because

We can use a per-worker production function in the Malthusian model because
A) the production function has constant returns to scale.
B) there is a representative worker.
C) there is a steady state.
D) firms are competitive.

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Gordis

Why do we analyze the steady state in the Malthusian model?

Why do we analyze the steady state in the Malthusian model?

Why do we analyze the steady state in the Malthusian model?
A) Because this is the Pareto optimum.
B) Because there is a non-steady state that is not interesting.
C) Because the long run equilibrium of the model is the steady state.

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Gordis

A steady state is (Multiple Choice Question)

A steady state is (Multiple Choice Question)

A steady state is
A) a temporary equilibrium.
B) a long-run equilibrium.
C) a Pareto Optimum.
D) an economy with ongoing fluctuations.

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Gordis

In the Malthusian model of economic growth, an increase in the quantity of land

In the Malthusian model of economic growth, an increase in the quantity of land

In the Malthusian model of economic growth, an increase in the quantity of land
A) increases steady state per capita consumption, and increases the steady state population.
B) has no effect on steady state per capita consumption or on stead

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Gordis

The Malthusian model emphasizes fixity in which of the following factors of production?

The Malthusian model emphasizes fixity in which of the following factors of production?

The Malthusian model emphasizes fixity in which of the following factors of production?
A) energy
B) land
C) labor
D) none of the above

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Gordis

In the Malthusian model, population growth is endogenous because

In the Malthusian model, population growth is endogenous because

In the Malthusian model, population growth is endogenous because
A) the death rate is endogenous.
B) neither is endogenous.
C) the birth and death rates are endogenous.
D) the birth rate is endogenous.

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Gordis

In the Malthusian model, the population growth rate is

In the Malthusian model, the population growth rate is

In the Malthusian model, the population growth rate is
A) negatively related to consumption per worker.
B) assumed to be constant.
C) exogenous.
D) positively related to consumption per worker.

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Gordis

There is evidence that income per worker is converging in

There is evidence that income per worker is converging in

There is evidence that income per worker is converging in
A) the poorest countries, but not the richest countries.
B) the richest countries, but not the poorest countries.
C) neither the richest nor the poorest countries.
D) the r

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Gordis

Recent evidence suggests that output per worker is

Recent evidence suggests that output per worker is

Recent evidence suggests that output per worker is
A) negatively related to the rate of investment and positively related to the rate of population growth.
B) positively related to the rate of investment and negatively related to the rate o

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Gordis

Before the Industrial Revolution, standards of living differed

Before the Industrial Revolution, standards of living differed

Before the Industrial Revolution, standards of living differed
A) little over time, but differed greatly across countries.
B) little over time and across countries.
C) greatly over time and across countries.
D) greatly over time,

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Gordis

The Solow model emphasizes the role of which of the following factors of production?

The Solow model emphasizes the role of which of the following factors of production?

The Solow model emphasizes the role of which of the following factors of production?
A) land
B) labor
C) natural resources
D) capital

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Gordis

The Malthusian model performs poorly in explaining economic growth after the

The Malthusian model performs poorly in explaining economic growth after the

The Malthusian model performs poorly in explaining economic growth after the
A) Industrial Revolution.
B) Bio-technology Revolution.
C) American Revolution.
D) French Revolution.

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Gordis

In the Malthusian model of economic growth

In the Malthusian model of economic growth

In the Malthusian model of economic growth
A) Per capita consumption is always constant.
B) Per capita consumption affects death rates but not birth rates.
C) Per capita consumption affects birth rates and death rates.
D) Per capi

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Gordis

The idea that an improvement in technology causes an increase in population but causes no increase i

The idea that an improvement in technology causes an increase in population but causes no increase i

The idea that an improvement in technology causes an increase in population but causes no increase in the average standard of living is attributed to
A) Adam Smith.
B) Thomas Malthus.
C) Milton Friedman.
D) Robert Solow.

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Gordis

In an exogenous growth model, growth is caused by

In an exogenous growth model, growth is caused by

In an exogenous growth model, growth is caused by
A) forces that are not explained by the model itself.
B) capital accumulation.
C) government policies.
D) human capital accumulation.

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Gordis

When we compare poor and rich countries in the world

When we compare poor and rich countries in the world

When we compare poor and rich countries in the world
A) The investment rate is higher for poor countries than for rich countries.
B) There is much greater dispersion in growth rates in per capita income for the rich countries than for the p

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Gordis

On average, for the last 100 years or more, real GDP per capita in the United States has increased b

On average, for the last 100 years or more, real GDP per capita in the United States has increased b

On average, for the last 100 years or more, real GDP per capita in the United States has increased by
A) 1% per year.
B) 0.5% per year.
C) 4% per year.
D) 2% per year.

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Gordis

If changes in economic policy could cause the growth rate of real GDP to increase by 1% per year for

If changes in economic policy could cause the growth rate of real GDP to increase by 1% per year for

If changes in economic policy could cause the growth rate of real GDP to increase by 1% per year for 100 years, then GDP would be ________ % higher after 100 years than it would have been otherwise.
A) 2.7
B) 2.0
C) 3.8
D) 1.3

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Gordis

In the Keynesian DMP model, if the wage is high then

In the Keynesian DMP model, if the wage is high then

In the Keynesian DMP model, if the wage is high then
A) the unemployment rate is low.
B) the labor force must be low.
C) labor market tightness is high.
D) the vacancy rate is low.

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Gordis

In the Keynesian DMP model

In the Keynesian DMP model

In the Keynesian DMP model
A) There is no unemployment.
B) The government post vacancies in the labor market.
C) There is a fiscal multiplier.
D) There can be more than one wage consistent with equilibrium.

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Gordis

A market failure associated with Keynesian economics is

A market failure associated with Keynesian economics is

A market failure associated with Keynesian economics is
A) insurance is imperfect.
B) economic agents cannot agree on prices and wages that are socially efficient.
C) pollution externalities.
D) banking panics.

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Gordis

In the DMP model, a decrease in matching efficiency

In the DMP model, a decrease in matching efficiency

In the DMP model, a decrease in matching efficiency
A) increases the size of the labor force.
B) reduces the unemployment rate.
C) has no effect on vacancies.
D) increases labor market tightness.

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Gordis

A decrease in matching efficiency

A decrease in matching efficiency

A decrease in matching efficiency
A) is not related to sectoral shocks.
B) can never happen.
C) is due to a change in the productivity of firms.
D) can explain the shift in the Beveridge curve.

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Gordis

In the DMP model, an increase in productivity does not

In the DMP model, an increase in productivity does not

In the DMP model, an increase in productivity does not
A) increase the vacancy rate.
B) increase the size of the labor force.
C) reduce the unemployment rate.
D) increase labor market tightness.

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Gordis

In the DMP model, a decrease in productivity

In the DMP model, a decrease in productivity

In the DMP model, a decrease in productivity
A) increases the unemployment rate.
B) increases the size of the labor force.
C) decreases the unemployment rate.
D) reduces the vacancy rate.

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Gordis

In the DMP model, an increase in the unemployment insurance benefit does not, under any circumstance

In the DMP model, an increase in the unemployment insurance benefit does not, under any circumstance

In the DMP model, an increase in the unemployment insurance benefit does not, under any circumstances
A) increase the unemployment rate.
B) increase the vacancy rate.
C) reduce the size of the labor force.
D) reduce labor market t

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Gordis

In the DMP model, a decrease in the unemployment insurance benefit

In the DMP model, a decrease in the unemployment insurance benefit

In the DMP model, a decrease in the unemployment insurance benefit
A) reduces labor market tightness.
B) reduces the vacancy rate.
C) reduces the unemployment rate.
D) increases the unemployment rate.

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Gordis

In the DMP model (Multiple Choice Question)

In the DMP model (Multiple Choice Question)

In the DMP model
A) the firm earns zero profits in a match.
B) the firm threatens the worker with separation and takes all the surplus from the match.
C) when a match occurs, the firm is indifferent between continuing with the match an

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Gordis

In the DMP model (Multiple Choice Question)

In the DMP model (Multiple Choice Question)

In the DMP model
A) the wage is equal to the marginal rate of transformation.
B) the market wage is equal to the marginal rate of substitution of leisure for consumption.
C) the wage is determined by bargaining between the firm and the

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Gordis

An important feature of the DMP model is that

An important feature of the DMP model is that

An important feature of the DMP model is that
A) workers can choose to shirk on the job.
B) would-be workers care not just about the market wage, but about the chances of finding work.
C) firms can fire workers.
D) firms maximize

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Gordis

The matching function captures the idea that

The matching function captures the idea that

The matching function captures the idea that
A) it is costly and time-consuming to get firms and workers together to produce output.
B) consumers have to be paid to work.
C) firms are profit-maximizing.
D) supply and demand for la

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Gordis

The matching function exhibits all of the following properties except

The matching function exhibits all of the following properties except

The matching function exhibits all of the following properties except
A) increasing in matching efficiency.
B) increasing in inputs of searching consumers and firms.
C) diminishing marginal product of labor.
D) constant returns to

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Gordis

In the DMP model, (Multiple Choice Question)

In the DMP model, (Multiple Choice Question)

In the DMP model,
A) Firms decide whether or not to enter the labor market by posting vacancies.
B) Firms maximize profits.
C) Firms decide whether or not to retain or fire workers.
D) Firms determine how much effort they should p

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Gordis

In the DMP model, (Multiple Choice Question)

In the DMP model, (Multiple Choice Question)

In the DMP model,
A) Each consumer decides whether to stay in his or her existing job or search for a new job.
B) Each consumer decides between searching for work and home production.
C) Each consumer decides whether to start a new bus

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Gordis

In the DMP model, (Multiple Choice Question)

In the DMP model, (Multiple Choice Question)

In the DMP model,
A) There are N firms, Q is the labor force, and N-Q is the vacancy rate.
B) There are N consumers, Q is the labor force, and N+Q is the number of consumers choosing home production.
C) There are N consumers, Q is the

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Gordis

From 2009 to 2012 (Multiple Choice Question)

From 2009 to 2012 (Multiple Choice Question)

From 2009 to 2012
A) The Beveridge curve shifted to the right.
B) The Beveridge curve cannot be discerned in the data.
C) The Beveridge curve became flat.
D) The Beveridge curve shifted to the left.

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Gordis

The negative correlation between the vacancy rate and the unemployment rate is called

The negative correlation between the vacancy rate and the unemployment rate is called

The negative correlation between the vacancy rate and the unemployment rate is called
A) The Phillips curve.
B) The Beveridge curve.
C) The Laffer curve.
D) The Fisher relation.

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Gordis