The movement of households from rural to urban settings reduced the degree of specialization in household production
a. True
b. False
A
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Refer to Scenario 1-1. Had the firm not produced and sold the last 3,000 cell phones, would its profit be higher or lower, and by how much?
A) Its profit will be $6,000 lower. B) Its profit will be $700 lower. C) Its profit will be $700 higher. D) Its profit will be $6,700 higher.
In South Asia and Sub-Saharan Africa, about what share of output is contributed by agriculture?
(a) One tenth. (b) One fifth. (c) Two fifths. (d) One half.
On the day of delivery
A) the spot price will equal the futures price. B) the spot price will be greater than the futures price by an amount equal to the current interest rate times the futures price. C) the futures price will be greater than the spot price by an amount equal to the current interest rate times the spot price. D) there is no necessary relation between the spot price and the futures price.
In the above figure, the economy would most likely move from AD1 to AD2 because of
A) an aggregate supply shock. B) an aggregate demand shock. C) a recession. D) a depression.