Cyrus McCormick is best known for
a. manufacturing the mechanical reaper.
b. developing hybrid strains of corn.
c. introducing chemical fertilizers.
d. the invention of the single-horse plow.
a. manufacturing the mechanical reaper.
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Consider the following economic agents:
a. the government b. consumers c. producers Who, in a centrally planned economy, decides what goods and services will be produced with the scarce resources available in that economy? A) producers B) consumers C) the government, consumers, and producers D) consumers and producers E) the government
Refer to the Article Summary. Explain how the declining labor force could have led to the decrease in the unemployment rate
What will be an ideal response?
A rise in foreign productivity tends to __________ foreign prices and causes the dollar to __________ relative to the foreign currency
A) raise; appreciate B) raise; depreciate C) lower; appreciate D) lower; depreciate
The reason an unregulated natural monopolist will produce at an economically inefficient quantity is
A. that the price does not equal the true marginal cost of producing the good. B. that the monopolist will produce a quantity greater than the minimum of the average total cost curve. C. due to the fact that the monopolist will equate average total cost with price to determine the output level. D. due to the fact that the monopolist will equate marginal cost with price to determine the output level.