As of the year 2000, agriculture accounted for what percentage of total U.S. output?
A. 8 percent.
B. 5 percent.
C. 1 percent.
D. None of the choices are correct.
Answer: C
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Suppose that in a particular market, the supply curve is highly elastic and the demand curve is highly inelastic. If a tax is imposed in this market, then the
a. buyers will bear a greater burden of the tax than the sellers. b. sellers will bear a greater burden of the tax than the buyers. c. buyers and sellers are likely to share the burden of the tax equally. d. buyers and sellers will not share the burden equally, but it is impossible to determine who will bear the greater burden of the tax without more information.
In the basic competitive model of labor markets, we assume that
A. all compensation is monetary and there are some fringe benefits included. B. firms have discretion over the wages they pay to their employees. C. all compensation is monetary and there are no fringe benefits. D. market wage rates are not costlessly observable.
From the end of the World War II, the debt-GDP ratio in the United States fell almost without interruption to a low point in ________, which marked the beginning of a long-run climb
A) 1955 B) 1962 C) 1974 D) 1984 E) 1990
The loan supply curve has a positive slope
A. for all savers. B. only for savers with fixed accumulation targets. C. for all savers except those with fixed accumulation goals. D. only for those contemplating retirement.