The closing of the frontier in the early 20th century led eventually to
(a) exhausting the land of all fertility by overusing it.
(b) a change from an "intensive" to an "extensive" use of the land.
(c) an emphasis on water conservation projects and the irrigation of arid lands.
(d) the sale of Bureau of Land Management and Forest Service lands to provide more land
for private agriculture.
(c)
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Autoworkers negotiate a wage increase. How does this change affect the supply curve of cars?
A) It shifts the supply curve leftward. B) It does not shift the supply curve or create a movement along it. C) It shifts the supply curve rightward. D) The supply curve will shift but there is not enough information to tell if the change shifts the supply curve rightward, leftward, or not at all. E) It creates a movement downward along the supply curve.
The above figure shows the short-run production function for Albert's Pretzels. The marginal productivity of labor for the third worker is
A) 6. B) 8. C) 24. D) not known from the information provided.
f the dollar appreciates relative to the Yen, it can be said that
What will be an ideal response?
Assume the marginal propensity to consume is 0.8. If consumer spending rises by $20 billion, then total income through the multiplier effect will:
a. Will not change b. Decrease by $100 billion c. Increase by $100 billion d. Increase by $10 billion