The research of Gavin Wright (1978) on the antebellum period suggests that
(a) there was no limit on the profitability of the plantation utilizing slave labor.
(b) issues with management, communication and discipline limited the profitability of the slave plantation.
(c) more than 75 percent of the Southern farms were plantations and utilized slave labor.
(d) all of the above.
(b)
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Leo is a welfare recipient who qualifies for two means-tested cash benefit programs. If he does not earn any income, he receives $225 from each program. For each dollar he earns (which his employer is required to report to the welfare agency), his benefit from each program is reduced by 75 cents until the benefit equals zero. Suppose Leo earns $10. He will lose ________ from each benefit, for a total loss of ________.
A. $7.50; $15.00 B. $7.50; $7.50 C. $.75; $1.50 D. $.75; $1.00
Coke and Pepsi are substitutes if
A) the demand for Coke increases when the price of Pepsi falls. B) the demand for Coke increases when the price of Pepsi rises. C) the supply of Coke increases when the price of Pepsi falls. D) the demand for Coke and Pepsi rise and fall together.
Nancy is considering forming a 5 year business partnership with Claudia. Nancy believes her portion of the partnership will generate the following profits:
Year Profits Present Value 1 $2,000 2 $4,000 3 $12,000 4 $15,000 5 $18,000 Nancy's appropriate discount rate is 6%. To join the partnership, Nancy needs to invest $30,000. Does the partnership offer a rate of return in excess of 6%?
Additional external costs associated with the production of consumer goods often comes in the form of what?
a. Market failure costs b. Externality costs c. Pollution costs d. Spillover costs