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.
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.
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.