Production processes in developing countries tend to be
a. labor intensive
b. capital intensive
c. highly automated
d. market oriented
e. none of the above
A
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In the United States, monetary policy is carried out by
A) the Federal Reserve System. B) Congress. C) the President. D) Congress and the President acting together.
An increase in the real interest rate is an example of a
A) pure substitution effect. B) substitution effect and a positive income effect. C) substitution effect and a negative income effect. D) substitution effect and an income effect whose sign depends on whether the consumer is initially a borrower or a lender.
Describe the diversity in the agriculture industry as it relates to farm commodities
What will be an ideal response?
Refer to the information provided in Figure 10.3 below to answer the question(s) that follow. 
Figure 10.3 Refer to Figure 10.3. The market wage is initially W1 and the firm is initially at Point B. Labor supply increases from S1 to S0. If the firm does not change the amount of capital it employs, the firm will move to Point ________ to maximize profits.
A. A B. C C. E D. F