Western agriculture in the nineteenth century can be characterized by
(a) a rising labor to output ratio.
(b) a rising capital to output ratio.
(c) the use of marginal land to increase output.
(d) a shift to more efficient crops.
(c)
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The impact of Hurricane Katrina on consumers in the economy was to make them very pessimistic about their future incomes. How does this increased pessimism affect the aggregate demand curve?
A) This will move the economy down along a stationary aggregate demand curve. B) This will move the economy up along a stationary aggregate demand curve. C) This will shift the aggregate demand curve to the left. D) This will shift the aggregate demand curve to the right.
Federal government expenditures account for more than two-thirds of the money spent in the public sector
a. True b. False
If price were $20, there would be _____ (shortage or surplus) of about ________.
If the wages of a dentist increase,
a. so does her opportunity cost of leisure. b. her hours of labor supplied may increase. c. her hours of labor supplied may decrease. d. All of the above are correct.