If the Habakkuk thesis had been correct—unamended by Rosenberg, David and others—a long-run decline in the supply of agricultural productivity west of the Appalachians would be matched by a proportional
(a) decline in the productivity growth in eastern manufacturing.
(b) increase in productivity in eastern manufacturing.
(c) rise in American food imports.
(d) rise in American exports of manufacturing.
(a)
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Campaign speeches normally include normative economic statements
Indicate whether the statement is true or false
If the demand for British pounds increases,
a. the equilibrium price of the pound will increase b. the equilibrium price of the pound will decrease c. the equilibrium price of the pound will not change d. the equilibrium price of the pound will change, but we need additional information to predict the direction of the change e. no one can predict what will happen
The type of unemployment caused by changes in the business cycle is
a. cyclical unemployment. b. natural unemployment. c. frictional unemployment. d. structural unemployment.
There is some agreement between the beliefs of President George W. Bush in 2001 on the effectiveness of tax cuts with the beliefs of former President
A. Keynes. B. Clinton. C. Reagan. D. Carter.