Between 1850 and 1950 the productivity of the average American farm worker
A. declined.
B. remained about the same.
C. doubled.
D. quadrupled.
D. quadrupled.
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What is the theory of comparative advantage?
What will be an ideal response?
If a market participant believes that a stock price is irrationally high, they may try to borrow stock from brokers to sell in the market and then make a profit by buying the stock back again after the stock falls in price. This practice is called
A) short selling. B) double dealing. C) undermining. D) long marketing.
If the government cuts taxes, then it has undertaken:
A. both a policy change and a regime change. B. a policy change. C. a regime change. D. neither a policy change nor a regime change.
Scarcity requires that we:
A. make sure we only want things that we are capable of consuming and producing. B. change our fiscal policy until the situation of scarcity is eliminated. C. make decisions in order to arrange our resources rationally. D. adopt economic policies that will lead to unlimited resources.