Which of the following factors was NOT responsible for the decline in farmers as a percent of the U.S. population from after the Civil War to 1900?
A. Falling prices for corn, wheat, and cotton
B. The demand for food outstripped supply
C. New technology
D. The government's liberal land policy that increased output
B. The demand for food outstripped supply
You might also like to view...
If the price of a six-pack of Pepsi falls from $4 to $3 and the quantity purchased increases 80 percent, then demand is
A) inelastic. B) elastic. C) unit elastic. D) perfectly inelastic. E) perfectly elastic.
In the figure above, if the minimum wage is $2 per hour, then
A) the quantity of labor supplied is 4 million hours and the quantity of labor demanded is 2 million hours. B) the quantity of labor demanded is 4 million hours and the quantity of labor supplied is 2 million hours. C) unemployment is 1 million hours. D) the quantity of labor supplied is 3 million hours and the quantity of labor demanded is 3 million hours.
Assume the cost of certain inputs used to produce artificial Christmas trees increases and, at the same time, the economy moves into a recession, causing the incomes of consumers to decrease
Which of the following will happen to the equilibrium price and quantity of artificial Christmas trees? (Assume artificial Christmas trees are normal goods.) A) Price will increase; quantity cannot be determined. B) Price will decrease; quantity cannot be determined. C) Quantity will increase; price cannot be determined. D) Quantity will decrease; price cannot be determined.
The IS-LM model predicts that a temporary beneficial supply shock
A. increases output, national saving, and the real interest rate, but not investment. B. increases output, national saving, and investment, but not the real interest rate. C. increases output, national saving, investment, and the real interest rate. D. increases the real interest rate, investment, and output, but not national saving.