Which of the following would cause an increase in quantity of wheat supplied?
A. New, better technology for farming is introduced
B. The price of fertilizer farmers use in their fields falls
C. The price firms pay for liability insurance falls
D. The price farmers receive for their wheat rises
Answer: D
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What are the problems associated with price regulation?
What will be an ideal response?
When cyclical unemployment increases and other things remain the same, ________
A) the natural unemployment rate increases B) the amount of frictional unemployment increases C) the amount of structural unemployment decreases D) the natural unemployment rate does not change
Refer to Table 4-8. What is the equilibrium hourly wage (W*) and the equilibrium quantity of labor (Q*)?
A) W* = $8.50; Q* = 380,000 B) W* = $8.50; Q* = 360,000 C) W* = $9.00; Q* = 370,000 D) W* = $9.00; Q* = 740,000
What is the marginal productivity theory of income distribution?
What will be an ideal response?