Most surveyed economists support Fogel and Engerman's (1974) position that plantation owners were largely rational and treated slaves in their best profit interest
Indicate whether the statement is true or false
False
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The labor supply and demand most directly affect the level of ________ in an economy
A) people requiring retraining B) welfare benefits C) people attending colleges D) employment
Identify whether each of the following transactions will take place in the factor market or in the product market:
a. Shondra buys a Harley-Davidson Softail motorcycle. b. Aimee works 20 hours a week at a grocery store. c. Gustavo sells a warehouse to a produce delivery company. d. Ocean Spray increases employment at its Middleboro, Massachusetts plant.
Oliver just brought home a new kitten. We could expect Oliver’s demand for:
A. cat toys, a complementary good, to increase. B. cat toys, a complementary good, to decrease. C. dog toys, a substitute good, to increase. D. dog toys, a substitute good, to decrease.
An option may add value to a transaction because:
a. interest charges are reduced. b. the price of the good is reduced. c. additional information may become available. d. options provide buyers with monopsony power.