With regard to agricultural productivity (grain crops) in the post-Civil War period (1870–1910),
(a) output per acre went up significantly.
(b) output per man-hour went up significantly.
(c) output per unit of energy input went up significantly.
(d) all of the above occurred.
(b)
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Which of the following will shift the supply curve for laptop computers to the left?
A) development of a cheaper microchip used in laptop computer production B) a subsidy to the laptop computer industry C) expectations of a future decline in laptop computer prices D) a reduction of the number of firms that make laptop computers
Mutually beneficial international trade between two countries depends on
a. each country having an absolute advantage in the production of a different good b. one country being worse (requiring more resources) than the other in the production of every good c. at least one country having a zero opportunity cost in the production of at least one good d. one country being relatively better at producing a good (which makes the other country relatively worse at it) e. one country being relatively better at producing all goods
Countercyclical discretionary fiscal policy calls for:
A. surpluses during both recessions and periods of demand-pull inflation. B. deficits during recessions and surpluses during periods of demand-pull inflation. C. deficits during both recessions and periods of demand-pull inflation. D. surpluses during recessions and deficits during periods of demand-pull inflation.
The price of furniture in the United States began to fall in the late 1990s while other prices in the economy rose primarily because
A. employment in the U.S. furniture industry rose significantly. B. the United States had placed high tariffs on imported furniture. C. there were technological advances in the production of furniture. D. furniture imports to the United States began to rise dramatically.