A fall in the price of farm land and farm prices in the early 1980s caused
a. farmers to borrow more heavily on that land to plant crops
b. banks that had lent heavily to farmers to go bankrupt when the farmers were unable to repay their loans
c. banks that had lent heavily to farmers to earn extraordinary profit when farmers repaid loans faster than usual
d. banks to increase their loans to farmers until the price of farm land increased
e. banks and farmers to get together to renegotiate their loans until the price of land and goods increased
B
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How are the fundamental economic decisions determined in Cuba?
A) The United Nations decides because Cuba is a developing economy. B) These decisions are made by the country's elders who have had much experience in answering these questions. C) The government decides because Cuba is a centrally planned economy. D) Individuals, firms, and the government interact in a market to make these economic decisions.
In long-run monopolistic competition, firms earn zero economic profit
Indicate whether the statement is true or false