Increases in the price of farm labor during the post-bellum period led to
a. an increase in farmers' demand for capital equipment.
b. a decrease in farmers' demand for land.
c. a decrease in the demand for food.
d. an increase in the demand for fertilizer.
a. an increase in farmers' demand for capital equipment.
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The demand for cars in a certain country is given by: D = 20,000 - P, where P is the price of a car. Supply by domestic car producers is: S = 5,000 + 0.5. If this economy is open to trade, and the world price of a car is $6,000, and the government imposes a quota allowing 3,000 cars to be imported, then domestic price of the car will be ________.
A. $8,000 B. $6,000 C. $5,000 D. $10,000
The ________ refers to the situation when people are promoted beyond their level of competence
a. Peter Principle b. Abernathy Principle c. Delaney Principle d. Suskind Principle
The technology or knowledge necessary for a production process is called
A. production input. B. knowledge input. C. business know-how. D. technology input.
When there is a recessionary gap, inflation will ________, in response to which the Federal Reserve will ________ real interest rates, and output will ________.
A. decline; lower; decline B. increase; raise; decline C. decline; lower; expand D. decline; raise; decline