During the 19th century, the great abundance of land compared to the availability of labor
A. attracted millions of immigrants.
B. encouraged early marriage and large families.
C. encouraged rapid technological development.
D. All of the choices are true.
D. All of the choices are true.
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The firm's demand for labor is derived directly from ________
A) the wage rate B) the supply of labor C) labor's cost D) labor's value of marginal product
Suppose we can represent Brandon's preferences for water with an expected utility function U(WR, WD) = (1/4)?WR + (3/4)?WD, where WD represents a quantity of water during a drought and WR represents a quantity of water in a rainy season. Brandon is:
A. risk averse. B. risk neutral. C. risk loving. D. There is not enough information to answer this question.
The simple circular flow model shows that workers, entrepreneurs, and the owners of land and capital offer their services through:
a. Employment agencies b. Product markets c. Resource markets d. Business firms
A decrease in the tax on capital income _______ the real interest rate and ________ investment and economic growth.
Fill in the blank(s) with the appropriate word(s).