The rise in agricultural discontent in the late 19th century can be best explained by
a. the rise of railroad cartels in the Midwest.
b. the rise of global market forces not easily observed by the farmers.
c. a decline in the value of agricultural exports from 1870 to 1900.
d. predatory lending by banks, resulting in increased farm repossessions.
b. the rise of global market forces not easily observed by the farmers.
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A reduction in regulation will shift the aggregate:
a. supply curve leftward. b. supply curve rightward. c. demand curve leftward. d. demand curve rightward.
Business success is largely dependent on
A) being a first mover. B) quality products. C) dynamic management. D) a global focus. E) many different things.
Suppose that the government taxes income in the following fashion: 30 percent of the first $20,000 . 50 percent of the next $30,000 . and 60 percent of all income over $50,000 . Ted earns $40,000 . and Robin earns $60,000 . Which of the following statements is correct?
a. Ted's marginal tax rate is 60 percent, and his average tax rate is 50 percent. b. Ted's marginal tax rate is 50 percent, and his average tax rate is 40 percent. c. Robin's marginal tax rate is 50 percent, and her average tax rate is 45 percent. d. Robin's marginal tax rate is 60 percent, and her average tax rate is 40 percent.
If a monopolistically competitive industry is in long-run equilibrium, a firm in that industry might be able to increase its economic profits by:
A. decreasing the price of its product. B. increasing the demand for its product. C. increasing the price of its product. D. decreasing the demand for its product.