Villagers in Xiaogang, China, produced more rice than those in surrounding villages because:
a. they had better farmland.
b. they were given better seeds.
c. they were able to keep the output they produced individually.
d. they made each family responsible for a certain, higher quota of rice production.
e. they had common ownership over the rice produced.
c
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George is offered an investment option by his friend. He asks George for $6,900 and offers to repay him $12,990 after a period of ten years
George considers investing his money in his friend's project; however, the bank in his community offers an annual rate of interest of 9% on every deposit. Which do you think is the better investment option for George?
The natural rate of unemployment is not zero. It is at least 5 percent, allowing for individuals who are frictionally and structurally unemployed
Indicate whether the statement is true or false
Under the Bretton Woods system, international debts were settled in:
a. gold. b. U.S. dollars. c. British pounds. d. silver. e. German marks.
Suppose the market price exceeds the typical perfectly competitive firm's short-run average total cost. What will happen to this market in the long run?
a. The market demand curve will shift to the left as firms exit. b. The market supply curve will shift to the left as firms exit. c. The market demand curve will shift to the right as firms enter. d. Both the market demand and supply curves will shift to the left as firms exit. e. The market supply curve will shift to the right as firms enter.