Which of the following would cause the demand for computer programmers to increase?
a. an increase in the productivity of computer programmers
b. a reduction in the price of a competitive input that can be substituted for computer programmers
c. a decline in the productivity of computer programmers
d. an increase in the wages of computer programmers due to legislative action (that is, the establishment of a price floor for computer programmers)
a. an increase in the productivity of computer programmers
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Suppose a farmer raising beef is making a normal profit. Then, because of a scare about mad cow disease, the demand for beef decreases drastically. What happens to the profits of the beef farmer in the short run and in the long run?
What will be an ideal response?
Which of the following regions obtained most of its imported goods from the United Kingdom?
a. the New England colonies b. the Middle colonies c. the upper Southern colonies d. the lower Southern colonies e. All of the above.
Which statement best describes the trend in land allocation laws from the Land Ordinance of 1785 to the Homestead Act of 1862?
a. The changes were more favorable to those who held a conservative belief about land allocation. b. The changes were more favorable to those who held a liberal belief about land allocation. c. There was no consistent trend in the changes; some changes favored the conservatives and others favored the liberals.
The four economic resources are: ___________, ___________, ___________ and __________.
Fill in the blank(s) with the appropriate word(s).