In the former Soviet Union,
A. the collective farms were more productive per acre than the private plots of land owned by peasants.
B. there was no private ownership of any farmland.
C. the private plots of land were more productive per acre than the large collective farms.
D. the land under cultivation was equally split between private plots of land and the collective farms.
C. the private plots of land were more productive per acre than the large collective farms.
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The value of money or income in terms of the quantity of goods the money can buy is called its
A) nominal value. B) marginal value. C) real value. D) implicit value.
Refer to Figure 9-3. What is the value of domestic producer surplus without a quota?
A) $5 million B) $15.75 million C) $38.5 million D) $53.5 million
Increases in the prices of services due to improvement in its quality indicate a(n) _____
a. decline in productivity. b. decline in real GDP. c. increase in output. d. decline in manufacturing output. e. increase in technological progress.
Use the table below to answer the following question.ProducerMinimum Acceptable Product PriceActual Product Price (Equilibrium Price)Kimberly$6$13Drake713Nicki913Victoria1113Which producer has a producer surplus of $4?
A. Kimberly B. Victoria C. Nicki D. Drake