Farm productivity per acre grew most rapidly after
a. the Revolutionary War
b. the Civil War
c. World War I
d. the 1929 stock market crash
e. World War II
E
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An expected increase in the market price of oil in the coming year is likely to:
A) shift the supply curve of oil to the right in the current year. B) shift the demand curve for oil to the left in the current year. C) cause no changes in the demand and supply curves of oil in the current year. D) shift the supply curve of oil to the left in the current year.
Assume a customer of natural gas is negotiating with his supplier over the telephone. At the time prices of all the supplier's competitors are precisely the same
The customer tells the supplier that if he raises his price even one penny he will walk away. What does the perceived demand curve for natural gas look like for this customer? Why?
The marginal rate of technical substitution is equal to
A) The ratio of the change in capital to the marginal physical product of capital. B) The ratio of the change in capital to the change in labor. C) The ratio of the level of capital to the level of labor. D) The ratio of the change in output to the ratio of two input prices.
Exchanges of stocks take place
A. in the principle financial city of each country, such as New York City for the United States and London for England. B. in a decentralized fashion around the world. C. in New York City only. D. in centralized physical locations known as stock exchanges and online through Internet brokers.