Between 1870 and 1920, the total labor force increased by threefold while
(a) the total number of people employed in agriculture increased by almost twofold and the total number of people employed in manufacturing and other non- agriculture increased fivefold.
(b) the total number of people employed in agriculture increased by almost fivefold and the total number of people employed in manufacturing and other non- agriculture increased
by threefold.
(c) the total number of people employed in agriculture increased and the total number of people employed in manufacturing and other non- agriculture increased by threefold.
(d) the total number of people employed in manufacturing and other non- agriculture increased
fivefold while agriculture decreased by twofold.
(a)
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Suppose that initially the price of a bag of jellybeans is $6, and the price of a bottle of cola is $2. If the price of a bottle of cola increases, then the relative price of jellybeans
A) increases. B) decreases. C) stays the same, but the relative price of cola increases. D) stays the same, but the relative price of cola decreases.
An information product is a product for which
A) the first item is produced inexpensively but additional units are more costly to produce. B) the first unit is very costly to make but additional units are less costly to produce. C) the marginal cost first falls and then rises but the average total cost rises throughout its range. D) the average fixed cost first falls and then rises, but the average total cost falls throughout its range.