What will be the principal and most immediate effect on the supply or demand for raw cotton grown in the United States if cotton-growing states experience rapid industrialization?
A) Decrease in demand
B) Decrease in supply
C) Increase in demand
D) Increase in supply
B
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In a perfectly competitive market, all consumers:
A) are price takers. B) set prices to compete in their market. C) have exactly the same demand schedules. D) have exactly the same tastes and preferences.
Which Amendment to the Constitution freed slaves?
a. Thirteenth b. Fourteenth c. Sixteenth d. Eighteenth
As shown in the graph, when a government imposes a quota, the outcome differs from that of a tariff being imposed in that area:
This graph demonstrates the domestic demand and supply for a good, as well as a quota and the world price
for that good.
A. F and H are deadweight loss instead of transferred surplus.
B. E represents tax revenues instead of transferred surplus.
C. FGH is deadweight loss instead of tax revenues.
D. G represents quota rents instead of tax revenues.
The labor force minus the number of employed equals the number of unemployed
a. True b. False Indicate whether the statement is true or false