out of 15 points 15 out of 15 points 15 out of 15 points 6517 744 PM Review

Out of 15 points 15 out of 15 points 15 out of 15

  • Liberty University
  • ECON 350
  • Test Prep
  • drmsccs811
  • 6
  • 67% (3) 2 out of 3 people found this document helpful

This preview shows page 4 - 6 out of 6 pages.

1.5 out of 1.5 points 1.5 out of 1.5 points 1.5 out of 1.5 points
6/5/17, 7(44 PM Review Test Submission: Test 3 – 201730 Summer 2017 ECON... Page 5 of 6 Question 20 The mercantilist measured prosperity of a nation by its per capita income Question 21By the time that John Stuart Mill’s Principles of Political Economy was published in1848, a substantial data made it clear that subsistence had been increasing faster thanthe population for some time. Question 22 The classical value theory mainly is about Question 23Manufacturing, according to classical economics, is said to be a good example ofdiminishing returns Question 24 All economists rejected or abandoned the Malthusian theory in the mid-1800 Question 25Classical diminishing returns in agricultural output (wheat, corn, etc) mean outputincreased at an increasing rate. 1.5 out of 1.5 points 1.5 out of 1.5 points 1.5 out of 1.5 points 1.5 out of 1.5 points 1.5 out of 1.5 points 1.5 out of 1.5 points
6/5/17, 7(44 PM Review Test Submission: Test 3 – 201730 Summer 2017 ECON... Page 6 of 6 Monday, June 5, 2017 8:43:50 PM EDT Question 26According to classical economics, commodities sold in non-competitive markets andcommodities in fixed supply sold Question 27Low tax rates enable those who are successful to retain a greater portion of theirearnings and allow them to Question 28 Malthusian population theory argued Question 29 The water and diamond paradox can be explained by the concept of Question 30Limited government and __________ go hand in hand in creating wealth OK 1.5 out of 1.5 points 1.5 out of 1.5 points 1.5 out of 1.5 points 1.5 out of 1.5 points 1.5 out of 1.5 points

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture