Which of the following explains the slower economic growth in the South compared to other regions of the country?
A. Much of the South's capital, public and private, was destroyed in the Civil War.
B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s all bypassed the South.
C. The South remained an agricultural region after the Civil War instead of immediately becoming a higher productivity manufacturing region.
D. All of the choices are true.
D. All of the choices are true.
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Refer to Figure 13.1. All else equal, an increase in transfer payments would best be represented by a movement from
A) point A to point B. B) point B to point A. C) point B to point C. D) point C to point B.
Which of the following statements about a firm's demand curve for labor is true?
a. It shows the relationship between the price of output and the quantity of output demanded. b. It usually has a negative slope. c. It is perfectly inelastic. d. It is derived from the labor supply curve. e. It is parallel to the demand curve for the firm's product.
Structural unemployment
a. arises from a mismatch between available jobs and workers' skills or geographic location b. is short-term joblessness experienced by those re-entering the labor force after a long absence c. occurs because of changes in seasons, tourist patterns, and similar factors d. does not occur when the economy is at full employment e. is joblessness resulting from business cycle movements
Which is not counted in GDP?
A. A Social Security check sent to a retiree B. Government spending on highway building C. Money spent on an airline ticket D. Money spent by a company to build a new office park