The slope of the labor demand curve can be attributed to the Law of:
A) Increasing Opportunity Cost. B) Diminishing Marginal Productivity of Labor.
C) Increasing Marginal Productivity of Labor. D) Decreasing Opportunity Cost.
B
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In the 17th century, the Middle colonies:
a. primarily produced crops using slaves on large plantations. b. primarily produced crops that are associated with large economies of scale. c. exported large amounts of wheat and flour to the West Indies. d. are often referred to as "a mercantilist's dream.".
A monopolistically competitive firm can raise price somewhat due to
a. product differentiation b. barriers to entry c. product similarity d. its homogeneous product e. high tariffs
Which of the following is closest to the future value of an $800,000 deposit earning 2 percent interest annually after 20 years?
A. $1,188,758 B. $1,120,262 C. $1,176,224 D. $1,201,204
A balanced budget amendment to the Constitution, proposed several times in the 1990s
A. Would prevent recessions. B. Would require the federal budget to be balanced every year. C. Would automatically produce surpluses during recessions and deficits during inflations. D. Would require the federal budget to be balanced over the course of the business cycle.