Research by Fogel and Engerman shows that, holding other factors constant, output per unit of total input was highest for Southern farms with:
a. no slaves.
b. 1 to 15 slaves.
c. 16 to 50 slaves.
d. 50 or more slaves.
d50 or more slaves.
You might also like to view...
Starting from long-run equilibrium, a large decrease in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; lower; potential B. expansionary; higher; potential C. recessionary; lower; potential D. recessionary; lower; lower
Suppose the population is 250 million people, the labor force is 150 million people, the number of people employed is 130 million and the working-age population is 200 million people. What is the unemployment rate?
A) 8.0 percent B) 10.0 percent C) 13.3 percent D) 20 million E) 15.4 percent
Proprietors' income is a component of which approach to measuring GDP?
A) incomes approach B) expenditure approach C) cost approach D) output approach
Suppose the U.S. government is auctioning the rights to mine for gold in a government-owned region on the West coast. Gold has been found in areas close to the region to be auctioned and gold has a fixed market price. The value of the rights to mine for gold in this region is an example of ________.
A) a common value B) an independent private value C) a correlated value D) a public value