For market prices that are below the shut-down point of every firm in the market, the short-run market supply curve
a. slopes upward
b. slope downward
c. follows the horizontal axis
d. rises at a 45-degree angle
e. follows the vertical axis
E
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Adverse selection is a problem
A) unique to direct finance. B) unique to indirect finance. C) arising before a transaction is consummated. D) arising after a transaction is consummated.
The believer in policy ________ must be pessimistic about the ability of the private economy to self-stabilize and ________ about the accuracy of economic forecasting
A) activism, pessimistic B) activism, optimistic C) rules, pessimistic D) rules, optimistic
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.
The United States exports more raw materials than finished products
a. True b. False