The

doubling and halving of the real wage index over 250 years from around 1350 cannot

be explained by the Malthusian model.

According

to the Malthusian model, the fall in the population due to the bubonic plague

would have led to an increase in the average productivity of workers, causing

the observed rise in the real wage post-plague.

In

the Malthusian model, the rise in real wages

from 1800 onwards, at the same time as the rise in population, could be explained by continuous technological

improvement.

The

final outcome will be somewhere between (or at) points C and I.

The

final outcome will be unchanged.

The

final outcome could be anywhere on the "contract curve" of Pareto-efficient

points between C and D.

The

final outcome will be a Pareto improvement.

If

Angela works 24 hours a day she can still survive.

A

new technology that produced more grain would give a larger technically

feasible set.

If

Angela needed less grain to survive the technically feasible set would be

smaller.

There

is a technically feasible allocation where Angela does not work.

Indifference

curves are downward-sloping.

Indifference

curves can sometimes cross.

The total utility is the same at all points on an indifference

curve.

Indifference

curves can have some sections that slope upwards.

The

change in the consumer’s utility when one good is substituted for another.

The absolute value of the slope of the indifference curve.

The

amount of one good that the consumer is willing to trade for one unit of the

other good.

The

ratio of the total amounts of two goods.

It must take the price given by the market, because it has no power to set prices. 

The firm's marginal revenue is less than the market price. 

The firm makes a differentiated product. 

In

a year with exceptionally good weather conditions, the production function

curve will be higher and parallel to the curve above.

If

there is an upper-limit on the amount of grain that can be produced, then the

curve will end up horizontal for large number of farmers.

A discovery of new high yielding crop seeds would tilt the production function

curve higher anti-clockwise, pivoted at the origin.

In

a year of bad drought the production curve can turn downwards for large numbers

of farmers.

Technology

A is the cost-minimising technology at all prices of coal and wages.

Technology

D is more labour-intensive than technology C.

Technology

C dominates technology A.

Technology

C can sometimes be a cheaper technology than A.

If

a country’s GDP doubles every 50 years, then on a ratio scale graph against time, it

will rise with an increasing slope.

If

Country C's GDP per capita rises from $2,500 to 7,500, and Country D's GDP per capita

rises from $6,000 to 18,000, the ratio of GDP per capita between the two

countries is unchanged.

Country

E is growing at the same percentage rate as Country F, but Country E is 3 times

richer than Country F. On a log scale graph against time, the gap between the

two lines will be constant.