The movement in U.S. population from the farms to urban areas was caused primarily by
a. each member of a farm family specializing in a particular set of tasks
b. a sharp increase in farm productivity
c. a decline in the demand for labor in urban areas
d. a sharp decline in the demand for agricultural products
e. increased education among married women
B
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When a unit tax of $2 is levied on a product
A) the entire $2 is paid by the consumer. B) the entire $2 is paid by the producer. C) both the consumer and producer pay $2 each. D) the consumer pays part of the $2 and the producer pays the rest.
An assumption on the LRAS curve is
A) technology remains unchanged. B) an increase in the average price level occurs. C) the economy is operating to the right of the production possibilities curve. D) labor productivity is increasing.
A cost that spills over onto individuals not directly involved in an activity is called a positive externality
a. True b. False Indicate whether the statement is true or false
Refer to the table below for a certain product's market in Econland. Assume that the world price of the product is $6. What would be the difference in the total revenue received by foreign producers after a quota of 400 units is imposed, compared against the total revenue received by foreign producers when a $1 per unit tariff is paid?
A. $0 revenue difference
B. $100 more in revenue with a quota than with a tariff
C. $400 more in revenue with a quota than with a tariff
D. $400 more in revenue with a tariff than with a quota