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MMLU-Pro / 6872 / Ricardo's theory of distribution assumed that the supply of land was fixed,…

Problem

Answer published by the source. Consult the official source to check your work against its answer.

question

Ricardo's theory of distribution assumed that the supply of land was fixed, while the country's population and cap-ital stock were constantly increasing. On the basis of these assumptions, he predicted eventual stagnation of the economy. How would this happen according to Ricardo?

category

economics

options

  1. The increasing population results in a surplus of land.
  2. Landlords decrease rent prices to encourage more farming, leading to an economic boom.
  3. The increasing population leads to increased demand for land, which eventually leads to a decline in profits, resulting in economic stagnation and decline.
  4. The fixed supply of land has no impact on the economy, as technological advancements ensure sustained productivity.
  5. Capital stock diminishes over time, leading to a reduction in the workforce and a stagnant economy.
  6. The constant increase in capital stock leads to a technological revolution that offsets any negative effects of a fixed supply of land.
  7. Landlords invest their incomes leading to economic growth.
  8. The fixed supply of land leads to increased innovation in agriculture, which results in perpetual economic expansion.
  9. The fixed supply of land leads to a decrease in demand.
  10. The increasing population leads to a decrease in wages, which in turn increases the overall savings and investment, resulting in economic growth.

src

stemez-Economics

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Source and history

upstream_id / Original problem ID
6872
task_id
95c0f019-e952-5de1-95f8-eb2ce1777ca0
task_key
default--test--6872
task_revision_id
1
config / split
default / test

Official source

initial import