Examlex
Some economists argue that it is possible to raise the standard of living by reducing population growth. As an economist interested in incentives rather than coercion, what kind of policy would you recommend to slow population growth?
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, resulting in a balance between production and consumption.
Equilibrium Quantity
The volume of commodities or services provided that coincides with the volume requested at the price of market balance.
Normal Good
A normal good is one whose demand increases when consumers' incomes increase and falls when incomes decrease, all else being equal.
Equilibrium Quantity
The quantity of a good or service at which supply and demand are balanced in a market.
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