Research on the productivity of southern cotton plantations shows that:
a. cotton production was greater on large slave plantations than on small free-family farms.
b. the majority of the South's cotton crop was grown on farm units of less than 100 acres.
c. output per slave declined during the antebellum period.
d. plantation-style agriculture was inefficient.
e. All of the above.
a. output per unit of input was greater on large slave plantations than on small free-family farms.
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Labor growth depends mainly on ________ and labor productivity growth depends mainly on ________
A) population growth; increases in real GDP B) population growth; technological advances C) growth in real GDP per person; growth rate of capital D) growth in real GDP per person; technological advances
Time has a positive value for most people, but their opportunity costs of time differ
a. True b. False
Moral hazard is best described as
a. an action by an individual that endangers others. b. an action that puts one's salvation at risk. c. the presence of insurance increasing risk taking behavior. d. vigilance by individuals to keep total insurance claims at a minimum to keep rates low.
Which is the most accurate statement?
A. Although no one theory can explain all poverty in the U.S., welfare dependency probably explains most of it. B. Poverty can be explained mainly by the laziness of the poor. C. There is no theory of poverty that really explains much. D. There are many theories of poverty, and while none can explain all poverty, each does explain some of it.