If the Habakkuk thesis had been correct—unamended by Rosenberg, David and others—a long-run decline in the supply of agricultural productivity west of the Appalachians would be matched by a proportional
(a) decline in the productivity growth in eastern manufacturing.
(b) increase in productivity in eastern manufacturing.
(c) rise in American food imports.
(d) rise in American exports of manufacturing.
(a)
Economics
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One of the problems associated with the utilitarianism is that it does not recognize that
A) taxing those with higher incomes results in less work effort. B) each individual receives a different marginal benefit from a dollar's worth of income. C) equity is achieved when there is no poor and no rich. D) similar individuals should be treated the same.
Economics
The nominal interest rate minus the inflation rate is the
A) depreciation rate. B) real interest rate. C) discount rate. D) forward rate.
Economics