In the decades before the Civil War, the South __________________________.
A. opposed the extension of slavery into the territories
B. supported the extension of slavery into the territories
C. cooperated with the North to establish both free and slavery territories
D. None of the choices are true
B. supported the extension of slavery into the territories
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Suppose each of the following is a highly-paid seller of services. Who provides a productive service?
A) Dionne, the astrologer B) Jerry, the comedian C) Roger, the movie critic D) Joe, the vice president E) All of the above.
Why is labor productivity so much lower in developing countries than in developed countries?
a. People concentrate more on theoretical education than on technical experience in developing countries. b. Income per capita is too low in developing countries to support investment in human and physical capital. c. High capital-labor ratio in the developing nations leads to lower productivity. d. Factors of production in developing countries are usually owned by the government.
In the graph above, A is the initial budget line and B is the new budget line. Which of the following changes might have occurred?
A. P1 decreased, P2 was unchanged, income increased. B. P1 increased, P2 decreased, income was unchanged. C. P1 decreased, P2 increased, income was unchanged. D. P1 was unchanged, P2 increased, income decreased.
Which of the following best describes the simple spending multiplier? a. It shows the magnified change in planned aggregate spending that arises from a change in output
b. It shows the magnified change in equilibrium output demanded that arises from a change in income. c. It shows the magnified change in planned aggregate spending that arises from a change in equilibrium output. d. It shows the magnified change in equilibrium output demanded that arises from a given initial change in planned aggregate spending. e. It shows the change in planned aggregate spending that arises from a change in real output.