Which region's agricultural system developed very differently from that of the rest of the nation?
A. the West
B. the Midwest
C. New England
D. the South
D. the South
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From the earlier 1990s until 2012, the Japanese monetary was ________ and stock and real estate prices were ________
A) tight; rising. B) easy; rising. C) tight; falling. D) easy; falling.
Initially, the economy is at point B on Figure 10-3 above. We conclude that before adjustment,
A) per person savings is at point D and the level of steady state investment is at point C. B) per person savings is at point E and the level of steady state investment is at point E. C) per person savings is at point G and the level of steady state investment is at point E. D) per person savings is at point C and steady state investment is at point D.
Refer to Figure 9.8. If free trade in sugar is replaced by a $50 tariff on sugar, the effect on domestic producer surplus will be to
A) lower it by $50. B) lower it by $12,500. C) leave it unchanged. D) raise it by $50. E) raise it by $12,500.
Laser disc players have been around for 10 years, but in the last several years, the sales have skyrocketed
Manufacturers attribute the increase in sales to lower prices, increased availability of movies on laser disk, and the appearance of laser disks for rent in video cassette rental stores. Describe this market using the concept of network externalities.