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6. Malthus's view on population suggests that When wages rise above subsistence population will grow b. Wages are irrelevant to population changes c. Nobody knows what subsistence wages are d. Labor markets are independent of population changes 7. The reason the classical model works as it does is because Labor is homogenous b. Resources are fully mobile between uses Money facilitates exchange All of the above e. None of the above 8. Adam Smith a. Emphasized Economic growth b. Argued for the benefits of the division of labor c. Disliked Mercantilist Monopoly d. All of the above e. None of the above 9. Improvements in | bor productivity, in the classical model, should result a . in more people being employed b. in lower prices c. in more money flowing out of the economy d. All of the above e. None of the above 10. Why are the flexibility of prices and quantities so important to the classical economy? Market responsiveness is critical to the classical economy maintaining equilibrium b. Because all businesses in classical world are assumed to be monopolies c. They are not important because international trade makes everything balance d. All of the above