A significant reason that increases in demand for agricultural products have been relatively small is because increases in the:
A. Population of the United States have been greater than increases in the productivity of agriculture
B. Population of the United States have been greater than decreases in the productivity of agriculture
C. Incomes of U.S. consumers result in more than proportionate increases in their spending on agricultural products
D. Incomes of U.S. consumers result in less than proportionate increases in their spending on agricultural products
D. Incomes of U.S. consumers result in less than proportionate increases in their spending on agricultural products
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If the case study on U.S. / China trade is correct in its analysis of factor abundance,
A) Chinese capital owners should see their income rise as trade increases. B) U.S. skilled labor inputs should see their incomes fall as trade increases. C) U.S. capital owners should see their income fall as trade increases. D) Chinese unskilled labor should see their income rise as trade increases.
How much additional money will be created if you deposit a $200 check into your bank, which holds a 10% reserve ratio?
A. $200 will be created since your checking account balance has increased by $200 B. $180 since the bank will keep 10% of your $200 check in reserves and lend the other 90% C. $2,000 since the money multiplier will be equal to 10 and reserves have increased by $200 D. No money will be created since the $200 check does not represent an increase in reserves
What would happen in the market for laser eye surgery if insurance companies started to cover a portion of the price of voluntary procedures?
A) Demand will increase, but this will not shift the supply curve. B) Supply will increase, but this will not shift the demand curve. C) Demand and supply will both increase. D) Demand will increase and supply will decrease.
Under the bimetallic standard of the 19th century,
a. gold was initially valued at about 15 times that of silver. b. price fluctuations of gold and silver eased the adoption of the system. c. price fluctuations caused hoarding of undervalued coins. d. Both a and b are correct. e. Both a and c are correct.