If a determinant of demand other than price changes, the demand curve shifts
a. True
b. False
Indicate whether the statement is true or false
True
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Technology can be defined as the
A. ability to get more output from a given amount of inputs. B. act of putting new methods into effect. C. discovery of new ways of making products. D. result of savings.
Under President John F. Kennedy, the United States expanded its highway system, creating 50,000 miles of high-speed limited-access highway.
Answer the following statement true (T) or false (F)
Using the HO model, assume that the United States is capital abundant and Mexico is labor abundant. If soybeans are capital intensive and avocados are labor intensive, it would be reasonable to expect the United States to
A) specialize completely in soybean production. B) specialize completely in avocado production. C) increase soybean production, but still produce some avocados. D) increase avocado production, but still produce some soybeans.
The British economist most often associated with the issue of economic rent for land was
A. John Maynard Keynes. B. A. W. Phillips. C. David Ricardo. D. Adam Smith.