When a farmer uses someone else's land in exchange for a percentage of the crop, this is called
a. rental contract
b. labor contract
c. sharecropping
d. tenancy
e. none of the above
C
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A market will experience a ____ when the price is above equilibrium and a ____ when the price is below equilibrium.
A. shortage, shortage B. surplus, surplus C. shortage, surplus D. surplus, shortage
Which of the following is closest to the future value of an $800,000 deposit earning 2 percent interest annually after 20 years?
A. $1,120,262 B. $1,188,758 C. $1,201,204 D. $1,176,224
If the price of music downloads decreases, which of the following is most likely to occur? a. Quantity demanded will decrease. b. Quantity demanded will increase. c. Demand will increase
d. Demand will decrease.
Suppose the United States government is successful in reducing the flow of drugs into the United States. What impact does this have on the supply and demand curves for illegal drugs. a. supply decreases, demand is unaffected, and price increases
b. demand decreases, supply is unaffected, and price decreases. c. demand and supply both decrease, leaving price essentially unchanged. d. supply decreases, demand increases, and price increases substantially.