Which of the following countries has the smallest percentage of its labor force employed in agriculture?
A. China.
B. France.
C. Brazil.
D. United States.
Answer: D
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If all prices fall by 5 percent and money income remains constant, the new budget line will have
A) a positive slope. B) the same slope. C) a steeper slope. D) a flatter slope.
Suppose Julia and Zach are the only consumers of milk. Julia's demand for milk is defined as QdJulia = 12 - 3P at prices below $4 and zero for prices above $4. Zach's demand for milk is defined as QdZach = 10 - 2P at prices below $5 and zero for prices above $5. In this case, the market demand curve for milk is:
A. is upward sloping. B. a downward sloping straight line. C. kinked at a price of $5. D. kinked at a price of $4.
According to real business cycle theorists, new technology raises real productivity, which allows for lower costs and prices
Indicate whether the statement is true or false
"Money is a veil" best describes the
a. new-Keynesian view. b. Keynesian view. c. classical view. d. economy in the short run but not the long run.