The influence of agricultural technologies on farm land in the United States has been
a. very little up until now.
b. substantial, as greater productivity per acre reduced the need for farmland.
c. substantial; the productivity of much farm land has been destroyed by new technologies and may never be useful again.
d. to make farmland less productive over time as the minerals In the soil are used up.
B
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The most significant problem in trying to empirically measure the real rate of interest is that
A) there are so many different types of bonds. B) expected inflation is unobservable. C) interest rates fluctuate so much from day to day. D) banks infrequently change the prime rate of interest.
Creating market power through the use of tariffs or quotas can
A) drive price to the monopoly level. B) increase the world price of the good that is targeted. C) increase government revenue. D) All of the above.
Which of the following statements about leading economic indicators is true?
a. They foreshadow turning points in the business cycle. b. Most people refer to them before making any important spending decision. c. They indicate when an economy is in a recession or an expansion.? d. They are the only economic indicators available to economists.? e. They can predict precisely when turning points in an economy will occur.?
Marginal revenue product is
A. marginal physical product multiplied by marginal revenue. B. the total revenue from the sale of the product sales. C. marginal physical product multiplied by average variable cost of the product. D. the price of the product.