Question

Draw your own Malthusian graph system. (We recommend drawing by hand, as you may be asked to draw this kind of graph on the exams without the aid of a computer.) The top graph should show birth and death rates as a function of wages; the bottom graph should show population size as a function of wages. Label all of the axes and mark the equilibrium state on both graphs by marking b*, d*, w*, and N* (equilibrium birth rate, death rate, wage rate, and population size) on the appropriate axes.

Imagine that marriage norms change and people start getting married at later ages. This results in a lower birth rate at every wage level. Show this change on your graph by drawing a second, dotted, birth rate line. Mark the new equilibria as b’, d’, w’, and N’. Describe in words what happened to the equilibrium wage level and population size.

Answer 1