Landowners whose property is seized through eminent domain share in the gains that result from the taking of their property
Indicate whether the statement is true or false
FALSE
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Use of bovine growth hormone (BGH) on cattle dramatically increases the milk output of dairy cows. Dairy farmers in Wisconsin vigorously oppose permitting the drug’s use over concerns of an excess supply and a consumer reaction on the purity of food issue that could put many of them out of business. Which of the graphs in Figure 4-13 is consistent with these concerns?
A. 1 B. 2 C. 3 D. 4
What is comparative advantage? What is absolute advantage?
What will be an ideal response?
Suppose a little girl likes peanut butter and jelly sandwiches with exactly 2T of jelly and 1T of peanut butter. Suppose further that her mom agrees to make sandwiches to those exact specifications and the price of peanut butter is $.25/T and the price of jelly is $.10/T. If she has $1.80 to spend on peanut butter and jelly ingredients (ignore the bread) in a week, how many sandwiches will she
make? a. 1 b. 2 c. 4 d. 8
Since 1970, exports, as a percent of world GDP, have
a. decreased but remain higher than 10 percent b. increased c. remained about the same d. decreased to below 10 percent e. exceeded 100 percent