Questions
ECO102H1 S LEC0101 Week 4 Quiz - Economic Growth
Single choice
The reason that the increase in population growth in the 19th and 20th centuries did not lead to famine as Thomas Malthus predicted was because
Options
A.there was diminishing marginal product of labor
B.increases in technology, physical capital, and human capital raised labor productivity
C.people learned to eat less
D.wars kept the population in check
E.worldwide population didn't actually grow
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Step-by-Step Analysis
Let’s break down what the question is asking: why the classic Malthusian prediction of inevitable famine due to population growth did not come to pass in the 19th and 20th centuries.
Option 1: 'there was diminishing marginal product of labor' This statement describes a situation where adding more labor yields progressively smaller increases in output, which by itself would not explain why famines were avoided. In fact, diminishing marginal product of labor is more of a general characteristic of some production functions, not a......Login to view full explanationLog in for full answers
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