Catfish farming is a perfectly competitive industry. Catfish farmers suffered tremendous economic losses in the late 2000s. As a result,
A) some new catfish farmers entered the market.
B) some catfish farmers exited the market.
C) no catfish farmers entered or exited this market.
D) the supply of catfish increased in 2010.
E) new demanders entered the market after some firms had exited.
B
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The exchange rate can be very volatile, yet the quantity of dollars traded might not change much because
A) the Fed is constantly intervening by buying and selling dollars. B) there is only limited quantity of dollars in the foreign exchange market. C) supply of dollars and the demand for dollars often change in opposite directions. D) supply of dollars and the demand for dollars often change in the same directions. E) both the demand curve for dollars and the supply curve of dollars are horizontal.
With more job training and more scholarships to poor American students, which special factor of production is likely to grow faster than in the past?
What will be an ideal response?
The movement in U.S. population from the farms to urban areas was caused primarily by
a. each member of a farm family specializing in a particular set of tasks b. a sharp increase in farm productivity c. a decline in the demand for labor in urban areas d. a sharp decline in the demand for agricultural products e. increased education among married women
The Condorcet paradox tells us that, even though it is impossible to satisfy all of Arrow's properties of a desirable voting system, pairwise majority voting will always satisfy transitivity
a. True b. False Indicate whether the statement is true or false