Since World War II, about ______ out of every ten family farms have disappeared.
A. one
B. three
C. five
D. seven
D. seven
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Refer to Figure 4-8. Suppose that instead of a rent ceiling, the government imposed a price floor of $2,000 per month for apartments. What is the value of consumer surplus after the imposition of the price floor?
A) $6,000 B) $30,000 C) $100,000 D) $240,000
Farming in poor countries is considered to be:
A. capital intensive. B. labor intensive. C. production intensive. D. cost intensive.
The marginal rate of substitution is the
A. rate at which the consumer increases utility. B. absolute value of the indifference curve. C. tradeoff rate between the two goods under consideration at any particular point. D. total utility derived at any point.
When the Fed sells short-term bonds and buys long-term bonds, it is engaging in
A. a maturity extension program. B. changing the discount rate. C. backward guidance. D. forward guidance.