What has been the effect of the outmigration of people from farming and the consolidation of smaller farms into larger ones on net farm income per farm household?
A. It is now far greater than nonfarm income
B. It is now significantly less than nonfarm income
C. It has decreased relative to nonfarm incomes
D. It has increased relative to nonfarm incomes
D. It has increased relative to nonfarm incomes
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Based on the figure below. Starting from long-run equilibrium at point C, a decrease in government spending that decreases aggregate demand from AD1 to AD will lead to a short-run equilibrium at__ creating _____gap.
A. B; no output B. D; an expansionary C. B; recessionary D. D; a recessionary
Starting from long-run equilibrium, a war that raises government purchases results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; potential C. higher; higher D. lower; higher
Alberto purchases ten cups of coffee a week. The amount of money that he holds to purchase ten cups of coffee is the
A) asset demand for money. B) precautionary demand for money. C) money balance demand for money. D) transactions demand for money.
Which of the following is the BEST example a public good?
A) a parking space B) a car C) a stop sign D) a toll road