Of the 2.2 million working farms in the U.S., _________ of them produce more than $5,000 worth of agricultural products.
A. one quarter
B. half
C. three quarters
D. one third
B. half
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The marginal revenue product of labor is defined as
A) the change in the firm's output as a result of hiring one more worker. B) the change in the firm's revenue as a result of selling one more unit of output. C) the change in the firm's profit as a result of hiring one more worker. D) the change in the firm's revenue as a result of hiring one more worker.
If the nominal interest rate is higher than the inflation rate, the value of your savings:
A. will increase. B. will decrease. C. should remain about the same. D. cannot be assessed without knowing the beginning balance of savings.
Suppose your grandfather put $10,000 in the bank in 1965 at an annual interest rate of 7%. Using the Rule of 70, approximately how large should the bank balance be in 2015?
a. $50,000 b. $60,000 c. $80,000 d. $320,000
The federal income tax began in the United States with the
A. Morrill Act of 1862. B. addition of the Bill of Rights to the Constitution in 1791. C. passage of the 16th Amendment to the Constitution in 1913. D. New Deal legislation of the 1930s.