Absentee landowners characterize the agrarian system of
(a) Asia.
(b) Latin America.
(c) Sub-Saharan Africa.
(d) all of the above.
A
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What type of spending is the largest component of the GDP?
A) investment B) net exports C) government purchases D) consumption expenditures
When housing prices ________ as they did beginning in 2006 following the housing market bubble, most banks and other lenders tightened the requirement for borrowers, making it ________ for potential home buyers to obtain mortgages
A) fell; easier B) rose; easier C) rose; harder D) fell; harder
When a firm is operating in a price-taker market, marginal revenue will always equal
a. average total cost. b. one minus the elasticity of the market demand curve. c. total revenue. d. price.
Since unemployment rates are consistently higher in Canada and some Western European countries than in the United States, it appears that the natural rate of unemployment is lower in the United States. What might explain this difference?