The influence of agricultural technologies on farm land in the United States has been
a. very little up until now.
b. substantial, as greater productivity per acre reduced the need for farmland.
c. substantial; the productivity of much farm land has been destroyed by new technologies and may never be useful again.
d. to make farmland less productive over time as the minerals In the soil are used up.
B
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A car salesperson gives you four alternative ways to pay for your car. The first is to pay $18,000 today. The second is to pay $19,000 one year from today. The third is to pay $20,300 two years from today. The fourth is to pay $21,500 three years from today. If the interest rate is 6 percent, which payment option has the lowest present value and which has the highest?
a. The first is lowest; the second is highest. b. The second is lowest; the third is highest. c. The third is lowest; the fourth is highest. d. The fourth is lowest; the first is highest.
Which of the following statements about perfect competition is true?
A. In the long run, the entry and exit of firms will generate normal profits for firms. B. In the short run, firms can only generate economic profits. C. In the long run, the entry and exit of firms will generate economic profits for firms. D. In the long run, the entry and exit of firms will generate losses for firms.