Problems for farmers in the last half of the 19th century included
a. falling per capita incomes.
b. reduced domestic agricultural output.
c. rising prices for consumer goods.
d. increased world supply of agricultural products.
e. All of the above.
d. increased world supply of agricultural products.
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Once the copyright on a book expires,
A) only the first publisher to reissue the book can claim copyright of that author's words. B) any publisher can now claim copyright of that author's words. C) no publisher can claim copyright of that author's words, but the book can be reissued by any publisher. D) no publisher can claim copyright of that author's words because the book can never be reissued.
Using the concept of income and substitution effects, explain how you might react to each of the following:
(a) You currently work 20 hours a week at $10 per hour and your employer tells you he must reduce your wage to $8 per hour. (b) The price of pizza doubles and the price of hamburgers remains constant.
State bank notes usually had a face value that was ______ their market value, while the notes of the First Bank of the U.S. usually had a face value that was ______ their market value
a. greater than; less than b. less than; greater than c. equal to; less than d. greater than; equal to
Assume a price floor is set above the equilibrium price. The result is a shortage
a. True b. False Indicate whether the statement is true or false