Between 1950 and 2015, the number of acres devoted to wheat production in the United States ________ and the price of wheat ________
A) declined; more than doubled
B) more than doubled; increased by about 50 percent
C) declined; decreased
D) increased; more than doubled
C
Economics
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In a small Asian country, it is estimated that changing the level of capital from $8 million to $12 million will increase real GDP from $5 million to $6 million
If the number of hours worked in the labor force does not change, what does this information tell you about the slope of the per-worker production function in this range? A) The slope is -4. B) The slope is 1/4. C) The slope is 4. D) The slope is 8.
Economics
A monopoly firm is a ______________ and faces a __________ sloping demand curve
a. Price taker; horizontal b. Price maker; horizontal c. Price maker; downward d. Price taker; downward
Economics