The Birth Rates in Societies That Have Experienced a Shift

question 201

True/False

The birth rates in societies that have experienced a shift from a subsistence-based to cash-based economy tend to rise because couples in the latter economy are able to generate sufficient wealth to support more children.

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Definitions:

Economic Profits

The variance between the sum of earnings and the sum of expenditures, encompassing both direct and indirect costs.

Industry Supply Curve

A graphical representation that shows the relationship between the price of a good and the total output of that good by all firms in the industry.

Diminishing Returns

A principle stating that as one factor of production increases while others remain fixed, there will eventually be a decrease in the incremental output gained.

Normal Rate

A standard or usual level of financial return on investment or interest on loans.