What will be the principal and most immediate effect on the supply or demand for raw cotton grown in the United States if an extensive, efficient cotton-growing industry in Africa develops?
A) Decrease in demand
B) Decrease in supply
C) Increase in demand
D) Increase in supply
A
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In the years immediately after the American Revolution
A. both labor and capital were scarce. B. neither labor nor capital were scarce. C. labor was scarce and capital was plentiful. D. capital was scarce and labor was plentiful.
Refer to the above figure. Line EBD is called
A) the saving function. B) the consumption function. C) the 45-degree line. D) aggregate demand.
What does it mean to say there is a separation of ownership from control in large corporations?
What will be an ideal response?
The total quantity of an economy's final goods and services demanded at different inflation rates is
A) the aggregate supply curve. B) the aggregate demand curve. C) the Phillips curve. D) the aggregate expenditure function.