Sharecropping:
a. allowed tenant farmers and land owners to share the risks and benefits of farming.
b. gave freed slaves more control over their workday.
c. relied on contracts that were usually renegotiated annually.
d. created little incentive for long-term investments in improvement of farm land.
e. All of the above.
e. All of the above.
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How is the market demand curve for a public good derived?
What will be an ideal response?
Foreign-exchange market interventions will always
A) lead to a decline in domestic interest rates relative to foreign interest rates. B) lead to a rise in domestic interest rates relative to foreign interest rates. C) lead to a decline in the domestic money supply. D) alter a central bank's holdings of international reserves.
Computer forecasting models have
a. been able to forecast changes in the growth rate of real GDP with considerable accuracy. b. had only limited success predicting turns in key economic variables such as real GDP. c. been able to accurately forecast the future direction of inflation but not real GDP. d. been able to accurately forecast the future direction of real GDP but not inflation.
Which of the following helps explain the multiplier effect?
a) Banks only hold a fraction of their deposits on reserve. b) Income is spent and re-spent in the circular flow model. c) People buy a lot of luxury items. d) Incomes tend to increase with inflation.