Between 1870 and 1910, corn and wheat
a. output showed little, if any, growth in land productivity.
b. output increased dramatically, due to labor productivity increases.
c. yields per acre hardly changed.
d. output increased dramatically due to the effects of increased amounts of capital per worker.
e. All of the above are correct.
e. All of the above are correct.
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Government's role of protecting property rights is considered:
A) enforcing a legal system. B) providing certain goods and services. C) redistributing income. D) maintaining the money supply.
Compared to the no-trade situation, if the United States imports video games,
a. the price of video games will decline in the domestic market. b. domestic video game producers will be able to charge higher prices. c. domestic video game producers will expand both output and employment. d. U.S. consumers will be harmed.