The amount of capital used per farm worker increased by how much from 1930 to 1980?
A. Double
B. Fivefold
C. Tenfold
D. Fifteen-fold
D. Fifteen-fold
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Suppose the U.S. government encouraged new teachers to take jobs in underperforming schools by paying the new teachers a $20,000 bonus. These teachers would be exemplifying the economic idea that
A) people are rational. B) people respond to economic incentives. C) equity is more important than efficiency. D) optimal decisions are made at the margin.
The table below describes the value added in the production of a gallon of gasoline by each stage of production. (The values are hypothetical.)
Table 19-10 Stage of Production Value of Sales Value Added Oil drilling 0.75 Refining 1.25 Shipping 1.85 Retail sales 3.65 a) What is the value added by each stage of production? b) What is the total value added? For simplicity, you can ignore the cost of the inputs for oil drilling.
Inflation impairs money's ability to do its job as a ______.
Fill in the blank(s) with the appropriate word(s).
If the price of gasoline decreases, what will be the impact in the market for public transportation?
A) The demand curve for public transportation shifts to the right. B) The quantity of public transportation demanded increases. C) The demand curve for public transportation shifts to the left. D) The quantity of public transportation demanded decreases.