After 1960, all of the following declined except
a. the number of U.S. farms.
b. the portion of U.S. labor force employed by the agricultural sector.
c. the total amount of U.S. land devoted to farming.
d. the average acreage per U.S. farm.
d. the average acreage per U.S. farm.
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Which statement is false?
A. Crime and drugs are central to the ghetto culture. B. Ghetto residents are more likely to be street crime victims than middle class people. C. A basic way to reduce crime would be to alleviate poverty. D. None of these statements are false.
Suppose that the market labor supply and labor demand equations are given by Qs = 5W and Qd = 30 ? 5W. If the minimum wage were set at $6 an hour, how many people would not be able to find work?
A. 0 B. 30 C. 20 D. 10
If foreign professionals perform equal quality work more cheaply than American professionals it is because
a. American professionals have lower opportunity costs that foreign professionals. b. foreign professionals have lower opportunity costs than American professionals. c. foreign professionals have a higher cost of living than American professionals. d. American professionals have a higher cost of living than foreign professionals.
The exchange rate of a currency in a black market:
A) will be less favorable to sellers of domestic currency than the official exchange rate. B) will be more favorable to sellers of domestic currency than the official exchange rate. C) will be more favorable to both the sellers and the buyers of domestic currency than the official exchange rate. D) will be less favorable to both the sellers and the buyers of domestic currency than the official exchange rate.