Historically barriers to development in the U.S., such as the dry deserts of some of the country's western states, have been solved by
(a) only government action.
(b) only private action.
(c) a blend of government and private actions.
(d) foreign expertise.
(c)
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If the quantity of credit supplied in a market exceeds the quantity of credit demanded in the market:
A) the unemployment rate tends to rise. B) the real rate of interest tends to rise. C) the rate of inflation tends to fall. D) the real rate of interest tends to fall.
Value added equals the market price of the firm's product minus
A) the price of intermediate goods. B) wages and salaries. C) the price of all factors of production. D) depreciation on plant and equipment.
Constant returns to scale (CRS) implies ________
A) constant returns to labor B) constant returns to capital C) increasing marginal products D) variable total factor productivity E) diminishing marginal products
According to general trends in the incidence of unemployment across different demographic groups in the United States, which of the following groups have the lowest unemployment rates in the country?
a. Asians b. Hispanics c. Whites d. Nonwhites e. Latinos