For the tenant in the post-bellum South, the advantage of sharecropping compared with renting for cash was that _____
a. the sharecropper's output was less dependent on weather
b. the sharecropper realized all of the gains from extra effort
c. sharecropping required more capital than renting
d. under sharecropping the landlord absorbed part of the risk of a bad harvest
d. under sharecropping the landlord absorbed part of the risk of a bad harvest.
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Assuming all excess reserves are loaned out, currency holdings by the public are zero, and a reserve ratio of 20 percent, an initial deposit of $6,000 will lead to a total increase in deposits of:
A. $12,000. B. $24,000. C. $30,000. D. $36,000.
Prices tend to be sticky because:
A. firms are worried that frequent price changes would annoy consumers. B. most firms have agreements with each other to fix prices at profit-maximizing levels. C. government controls most prices. D. foreign competition discourages domestic firms from price changes.
If the minimum points of all the possible short-run average total cost curves become successively lower as quantity of output increases, then:
A. the firm should try to produce less output. B. total fixed costs are constant along the LRAC curve. C. there are economies of scale. D. when output is doubled, total costs are doubled.
Which of the following would not be included in the expenditure category called investment expenditures?
A) a purchase of shares of preferred stock B) spending on new houses C) a purchase of a copy machine by FedEx Office D) the cars held in inventory on a local Ford dealer's lot