The Chinese famine occurred as a result of:
a. Deng's reforms
b. Zhou's reforms
c. The Cultural revolution
d. The Great Leap forward
e. The 1949 land reform
D
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Most students expect that if they spend more time studying, the outcome will be improved grades in the course. This supposes that: a. a positive relationship exists between studying and grades. b. a negative relationship exists between studying and grades. c. grades are independent variables
d. grades are not dependent variables.
Which is NOT part of the definition of capital, as used by economists? It ___.
A. must be manufactured B. is used by firms C. is used up in production D. produces other goods and services
If a positive permanent supply shock were to occur, the resulting equilibrium would be a:
A. higher level of output at lower prices. B. lower level of output and prices. C. higher level of output and prices. D. lower level of output at higher prices.
A monopsony has an upward sloping supply curve because
A) diminishing marginal product to scale does not exist in a monopsony. B) each additional unit of labor costs less. C) when more units of labor are hired, all laborers must receive the higher wage. D) when more units of labor are hired, only the new workers receive the higher wage.