In the former Soviet Union most of the farmland was in the form of _____________________.
Fill in the blank(s) with the appropriate word(s).
collective farms
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The above table gives the demand and supply schedules for cat food. What is the equilibrium price and quantity?
What will be an ideal response?
To calculate GDP by the expenditure method, one must add
A) wages, rents, interest, and profits. B) consumption spending, investment spending, government spending, and net exports. C) labor, natural resources, entrepreneurship, and capital. D) consumption spending, investment spending, government spending, and exports.
Suppose the money demand function is given by Md/P = 640 + 0.1Y - 5000 (r + ?e). Suppose the central bank changes the nominal money supply depending on income and inflation: Ms = 1000 + 0.1Y - 4000?
(a) If expected inflation equals actual inflation = 0.03, Y = 1000, and r = 0.02, calculate the price level. (b) If inflation rises to 0.04 while the other variables remain as in part a, calculate the price level. (c) If expected inflation rises to 0.04 while the other variables remain as in part a, calculate the price level. (d) If the real interest rate rises to 0.03 while the other variables remain as in part a, calculate the price level.
At various times, the United States has undergone the painful process of reducing military spending. Military bases from the Carolinas to California pleaded to be spared, citing huge job losses if they close. How can one rationally decide which bases to shut down, given the necessity of jobs?