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So what caused the end of Malthusian age? How did humanity escape from the trap in that invention and ingenuity increased the numbers though not the material well-being of humanity?
The key is that even in Malthusian age, the pace at which inventions were made increased steadily. First of all, the population grew. Inventions made communication easier: especially after the invention of printing knowledge could diffuse quickly and widely. More people meant more inventions: two heads are greater than one. The rate of technological progress slowly rose over millennia. And about 1500 it passed the point at that natural resource scarcity couldn't fully offset it. Sustained increases not just in population though in the productivity of labor followed.
At first the rise in material standards of living brought sharp increases in the rate of population growth: population explosion. However as material standards of living rose far above subsistence, countries began to undergo the demographic transition.
Evaluation of the WTO: The WTO is different from and an improvement over the GATT in the following respects: • The WTO is more global in its membership. • The WTO ha
We couldn''t find "Bob sold 50 fans at $20 a piece last month. This month he decreased the price to $15 and sold 75. What is the price elasticity of demand for fans
what is exceptional demand
Consider a hypothetical ABC economy in which the narrowly-defined measure of the money supply (M1), as defined in the Canadian sense, in existence is 1250$ million. Assuming the e
the diagram used to illustrate of abnormal and normal profits
Problem: (a) "Economics is the study of how society decides what, how and for whom to produce". Describe the importance of opportunity cost to a society. (b) Distinguish bet
If the MU of the 1st unit consumed = 75 utils, and the TU of consuming 2 units is 130 utils, what is the marginal utility of the second unit?
Production possibility frontier PPF is a combination of two or more goods a which a country can make in a given timeline or period with resource fully employed.
1. Consider a model economy with a production function Y = K 0.2 (EL) 0.8 , where K is capital stock, L is labor input, and Y is output. The savings rate (s), which is define
buyers cannot tell whether any given car is a lemon. The percent of all cars that are lemons is theta. How much is theta when all cars offered are sold?
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