Which of the following statements is true of sharecropping?
a. It is an inefficient arrangement if the work of the farmer is not monitored.
b. The higher the profit to the landowner, the higher the share of the farmer.
c. Both the farmer and the landowner will work to maximize farm profits.
d. The higher the profit to the landowner, the lower the share of the farmer.
A
You might also like to view...
Before the Industrial Revolution, living standards in the world
A. were relatively stagnant for long periods of time. B. were declining because of rapid increases in population. C. were already rising significantly for many decades. D. are not known, for lack of reliable records from that period.
In recent years, established U.S. stock exchanges have faced significant competition from
A. new start-ups. B. small, regional stock markets. C. foreign stock markets. D. people buying and selling stocks online
If monopolies are both inevitable and bad, which policy alternative will be least disruptive of all effective policy alternatives?
a. regulate prices b. nationalize c. laissez-faire d. encourage concentration e. split up the monopoly
The consumer surplus for a good will increase if the: a. demand for the good is perfectly elastic. b. market price of the good decreases
c. demand for the good is perfectly inelastic. d. market price of the good increases.