The New Deal in U.S. history is that period during the Great Depression in which American "capitalism" is redefined and the role of the federal government in the economy fundamentally changes forever
Indicate whether the statement is true or false
True
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Which of the following is true for a perfectly competitive agricultural market with economic profits?
A. Firms will exit until normal profits are zero. B. The profits will last indefinitely since there are barriers to entry. C. No entry or exit will occur based on economic profits. D. Firms will enter and existing firms will increase their production until economic profits are zero.
Interest rates are positive mainly because
A) of inflation. B) people tend to prefer the present to the future. C) people tend to prefer the future to the present. D) bankers are greedy.
The percentage of workers whose wages are set by explicit contracts falls. This should
A. have no impact on the movement of the labor market toward equilibrium after a change in the demand for labor. B. cause the labor market to always be at an equilibrium, even if there is a change in the demand for labor. C. make it easier for the labor market to reach an equilibrium after a change in the demand for labor. D. make it more difficult for the labor market to reach an equilibrium after a change in the demand for labor.
From 8 to 11 p.m., Sam can either attend a basketball game, a hockey match or the symphony. Suppose that Sam decides to attend the hockey match and thinks to herself that if she did not go to the match she would go to the symphony
Then the opportunity cost of attending the hockey match is A) going to the symphony and the basketball game. B) going to the symphony. C) going to the basketball game. D) three hours of time.