Between 1950 and 2015, the number of acres devoted to wheat production in the United States ________ and the price of wheat ________
A) declined; more than doubled
B) more than doubled; increased by about 50 percent
C) declined; decreased
D) increased; more than doubled
C
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Sam Lewis owns a firm in New York City's garment district. If Sam keeps adding workers to use the same number of sewing machines, eventually the workplace will become so crowded that workers will get in each other's way. At this point
A) Sam should begin using a division of labor in his business. B) Sam's business will be in violation of safety rules that have been established by the New York City government. C) the marginal product of labor in Sam's business would be negative and his total output would decrease. D) Sam should encourage his workers to share their sewing machines.
Under a flexible exchange rate system, if the quantity supplied of dollars is less than the quantity demanded of dollars, there is a:
A) balance of payments deficit and the dollar would depreciate. B) balance of payments surplus and the dollar would depreciate. C) balance of payments deficit and the dollar would appreciate. D) balance of payments surplus and the dollar would appreciate.
Household wealth refers to
a. human capital. b. the flow assets. c. net worth. d. the flow of income.
The EITC tends to
a. increase employment just like the minimum wage does. b. decrease employment just like the minimum wage does. c. increase employment whereas the minimum wage decreases employment. d. decrease employment whereas the minimum wage increase employment.