Kuznets's research showed that the marginal propensity to consume remains constant as national income rises
Indicate whether the statement is true or false
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When a hard frost hits orange groves in Florida, the supply of orange juice ________ and price ________
A) increases; increases B) increases; decreases C) decreases; increases D) decreases; decreases
In the neoclassical growth model without technological progress, in the steady-state the level of capital increases at
a. the growth of technology plus the growth of population. b. the growth of technology plus the growth of population plus depreciation. c. the growth of technology. d. the growth of population.
Which of the following was NOT a major claim of Fogel and Engerman (1974) in their work on slavery?
(a) Slavery was profitable for Southerners. (b) Slavery slowed the mechanization of the plantations. (c) Slaves were treated fairly well. (d) Slavery was efficient.
When a country takes a unilateral approach to free trade, it
a. removes trade restrictions on its own. b. reduces its trade restrictions while other countries do the same. c. does not remove trade restrictions no matter what other countries do. d. is willing to trade with multiple countries at once.