The South's economy was based on production of
A. iron, steel and textiles.
B. corn, wheat and soybeans.
C. tobacco, cotton and rice.
D. iron, wheat and cotton.
C. tobacco, cotton and rice.
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The potential adult work force includes:
A) non-institutional population 13 years and over plus people on active duty in the military. B) non-institutional population 16 years and over plus people on active duty in the military. C) non-institutional population 18 years and over. D) civilian non-institutional population 16 years and over.
Which of the following equations represents equilibrium in the goods market?
A. AE = C + I + G B. Y = AD + AS C. Y = S + I D. AE = I(r)
Related to the Economics in Practice on p. 26: Based on the increase in the number of women in the labor force over the past 60 years, the opportunity cost of preparing a home-cooked meal
A. decreased. B. dropped to zero. C. remained constant. D. increased.
Which of the following statements is true of foreign aid?
A) In practice, much of foreign aid does not get invested in new technology or education. B) Foreign aid is regressive to development. C) Foreign aid is provided only by financial institutions such as the World Bank. D) Foreign aid is directly responsible for reducing corruption in developing nations.