The Rate of Change of the Population of a City

question 15

Multiple Choice

The rate of change of the population of a city is proportional to the population ​P at any time (in years) .In 2000,the population was 200,000,and the constant of proportionality was 0.015.Estimate the population of the city in the year 2020. ​

• A) ​260,972 people
• B) ​268,972 people
• C) 263,972 people
• D) ​266,972 people
• E) 269,972 people

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Definitions:

Behavioral Economists

Economists who study the effects of psychological, social, cognitive, and emotional factors on the economic decisions of individuals and institutions.

Dictator Game

An economic experiment that measures how fairly individuals allocate resources between themselves and another participant, without any threat of punishment.

Neoclassical Economics

A branch of economics focusing on the determination of prices, outputs, and income distributions in markets through supply and demand, emphasizing rational individuals and efficient market outcomes.

Behavioral Economics

Behavioral economics studies the effects of psychological, cognitive, emotional, cultural, and social factors on the economic decisions of individuals and institutions.