During recent years, Green Revolution scientists have
a. focused on techniques of organic farming
b. focused primarily on developing new strains of wheat and corn
c. produced seeds for a greater variety of crops
d. engaged in little activity since their funding has been cut off
e. focused on political issues of agriculture in developing countries
Answer: c. produced seeds for a greater variety of crops
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What will happen if the institutions in an economy transform from inclusive to extractive?
A) The return-to-entrepreneurship schedule will shift rightward and the opportunity cost to entrepreneurship will decrease. B) The return-to-entrepreneurship schedule will shift leftward and the opportunity cost to entrepreneurship will decrease. C) The return-to-entrepreneurship schedule will shift leftward and the opportunity cost to entrepreneurship will increase. D) The return-to-entrepreneurship schedule will shift rightward and the opportunity cost to entrepreneurship will increase.
Potential output in an economy is dependent upon which of the following factors?
a. the given supply of resources b. rate of unemployment c. nominal wages d. potential output is not dependent on any of the previous factors