During the twentieth century, the U.S. farm sector experienced
A) large increases in its ability to produce output.
B) relatively little improvement in its ability to produce output.
C) a marked decrease in its ability to produce output.
D) relatively stable demand for its output.
E) increasing relative prices for its output.
A
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Indicate whether the statement is true or false
Suppose a monopolist faces the demand curve shown below. 
If the monopolist's marginal cost is constant and equal to $30, its profit-maximizing level of output is:
A. 50 units. B. 30 units. C. 40 units. D. 20 units.
If the price elasticity of demand for a good is greater than one in absolute value, economists characterize that demand is
A) elastic. B) inelastic. C) perfect. D) vertical.
During a recession, the overall unemployment rate
A. equals the inflation rate. B. falls below the natural rate of unemployment. C. falls rapidly. D. exceeds the natural rate of unemployment.