Chapters 7-15 Quizzes

Chapters 7-15 Quizzes - Chapter 7 1. The upward slope of...

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Chapter 7 1. The upward slope of the supply curve means that as the price of a good increases, the producer is willing to produce more of the good 2. A technological improvement is some kind of new knowledge that allows farmers to produce more output with the same resources 3. Items considered luxuries tend to have elasticities above 1 Chapter 8 1. The food security equation compares the value of the food production deficit in a household with the income and liquid assets that household has available to purchase food 2. The food security equation essentially says that if price goes up, we see a greater risk of food insecurity 3. The price of food is affected through the supply side by quantity produced Chapter 9 1. According to the Malthusian thesis, human numbers increase by geometric progression and subsistence increases by arithmetic progression 2. According to the theory of demographic transition, population growth goes through 3 or 4 stages 3. The problem of AIDS is especially severe in
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Chapters 7-15 Quizzes - Chapter 7 1. The upward slope of...

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