Over the past several decades, farm employment has:
A. grown absolutely but declined as a percentage of total employment.
B. declined both absolutely and as a percentage of total employment.
C. increased both absolutely and as a percentage of total employment.
D. declined absolutely but increased as a percentage of total employment.
Answer: B
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Other things being constant, if the marginal propensity to save (MPS) is 0.1, and private investment spending falls by $100 million, then real Gross Domestic Product (GDP)
A) increases by $1 billion. B) increases by $90 million. C) decreases by $1 billion. D) decreases by $10 million.
Marginal cost eventually increases because
A) of the law of diminishing returns. B) eventually each additional worker produces a successively smaller addition to output. C) the marginal product of the variable input eventually falls. D) All of the above answers are correct.
In a perfectly competitive market, the market demand curve is horizontal
a. True b. False
There was a lot of pressure on U.S. policymakers in late 1999 and into the early 2000's to decrease the value of the dollar. This pressure was coming mainly from:
A. foreign central banks. B. U.S. manufacturers. C. foreign manufacturers. D. importers.