Resource consumption per person in the United States is either flat or falling, depending on the resource. Yet living standards are rising due to improvements in technology that allow more output to be produced for every unit of input used in production. What does this say about the likelihood of our running out of resources? Could we possibly maintain or improve our living standards even if the population were expected to rise in the future rather than fall?

Q: Suppose that before you began your college application process, you were offered a job to work as a…

A: Opportunity cost is the benefit that was forfeited because a specific alternative wasn't chosen.  To…

Q: List of the Six Macroenvironment Forces. Explain how you, as a business owner, adapt to each of the…

A: Microenvironment  The environment that directly affects your business is known as the…

Q: true or false Technological developments are a fundamental driver of opportunity.

A: Technological developments can possibly set out new open doors and change existing businesses.…

Q: Question #2. Attached (below) is a diagram of a bio-economic model reflecting the relationships…

A: "According to our policy, we can provide you with the first three subpart of the question. Kindly…

Q: Which of the following is a potential negative impact of rapid technological innovation on the…

A: •Technological unemployment is a significant concern associated with rapid technological innovation.…

Q: As an economist, what would you call the current way We R' Write is acquiring the products needed to…

A: We R' Write currently purchases the wood used to make their pencils, the rubber used to make erasers…

Q: In educational economics, what does the term "rate of return to education" refer to? a) The…

A: It looks at how limited resources such as funds and time are allocated to education.It analyzes…

Q: The following graph shows a variety of possible production functions (PFs) in an imaginary economy,…

A: It has been assumed that human capital and technology is at constant levels.

Q: Can innovation and new production technologies delay or stop the occurrence of diminishing returns?

A: Diminishing returns The diminishing returns is very much an economic principle that states that when…

Q: In a nation with excessive population growth, and unskilled labor, the production possibilities…

A: The graph known as the production possibilities curve (PPC) illustrates all the possible output…

Q: Choose the following option: Q#3)  Consider the U.S. economy during two historical periods. The…

A: Hi! Thank you for the question As per the honor code, We’ll answer the first question since the…

Q: Given a closed economy where there is no public sector. Production in the economy can be described…

A: Production function:Production is a function of land labor capital and entrepreneurship. It includes…

Q: Store. Christian's Corner Store pays Antonio $400 per week to stock shelves. Antonio uses $250 to…

A: Green arrow in the diagram represent flow of dollars and red arrows represent flow of inputs and…

Q: Consider an economy that produces two goods, an agricultural good and a manufacturing good. An…

A: Given: YA = LA YM = KθLM 1-θ  Y = YA + YM n = 0 L = LM + LA P = LA/L

Q: As productive resources and technological know-how increase, a nation’s production-possibility curve…

A: A Production Possibility Curve (PPC) is a graph that shows all the possible combinations of two…

Q: Which of the following factors does not help an economy thrive?         increased…

A: The objective of the question is to identify the factor that does not contribute to the thriving of…

Q: During a debate on the floor of the U.S. Senate, Senator Creighton states, "Our nation should not…

A: The production possibilities frontier measures the maximum output an economy can produce of two…

Q: Developing countries are striving to reach the standard of living enjoyed by developed countries,…

A: The one-child policy was a Chinese regulation that restricted most Chinese families to having only…

Q: How do you know that the equillibrium prices are lower, the quantities produced are higher and the…

A: Determining the impact of a merger on equilibrium prices, quantities produced, and profits involves…

Q: What can increase the standard of living in the Malthusian​ model?

A: Before the industrial revolution, the Malthusian economy was the economic system that characterised…

Q: Suppose there is a simple hypothetical economy in which the only industry is cloud computing. In the…

A: Human capital implies the skills, knowledge, health, etc people gain throughout their lives.…