« previous next »

Author Question: (Use the graph of the wheat market in Economic Insight 9.1, on p. 162 of the text.) S1 shows the ... (Read 81 times)

saraeharris

  • Hero Member
  • *****
  • Posts: 546
on: Jun 30, 2018
(Use the graph of the wheat market in Economic Insight 9.1, on p. 162 of the text.) S1 shows the supply curve for wheat in the local market. S2 shows the supply curve for wheat in more distant markets in the early 1800s. S3 shows the supply curve for wheat in more distant markets in the mid-1800s. Given the information provided, we can conclude that
 a. the price that wheat producers received per bushel rose from P2F to P2C during the antebellum period.
  b. the price paid by wheat buyers in distant markets fell from P2C per bushel to P3C per bushel during the antebellum period.
  c. in the mid-1800s, wheat buyers in distant markets paid P3F per bushel and wheat producers received P3C per bushel.
  d. wheat producers received a price of P3C for wheat in the early 1800s.

Question 2

Which of the following was not a component of the National Recovery Act (NIRA)?
 a. Set minimum prices for goods.
  b. Set minimum wages.
  c. Set a minimum number of hours of work.
  d. Institute codes of fair practice for various industries.


kkenney

  • Sr. Member
  • ****
  • Posts: 352
Reply #1 on: Jun 30, 2018
Answer to Question 1

b. the price paid by wheat buyers in distant markets fell from P2C per bushel to P3C per bushel during the antebellum period.

Answer to Question 2

c. Set a minimum number of hours of work.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

Did you know?

Studies show that systolic blood pressure can be significantly lowered by taking statins. In fact, the higher the patient's baseline blood pressure, the greater the effect of statins on his or her blood pressure.

Did you know?

Anesthesia awareness is a potentially disturbing adverse effect wherein patients who have been paralyzed with muscle relaxants may awaken. They may be aware of their surroundings but unable to communicate or move. Neurologic monitoring equipment that helps to more closely check the patient's anesthesia stages is now available to avoid the occurrence of anesthesia awareness.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

Bisphosphonates were first developed in the nineteenth century. They were first investigated for use in disorders of bone metabolism in the 1960s. They are now used clinically for the treatment of osteoporosis, Paget's disease, bone metastasis, multiple myeloma, and other conditions that feature bone fragility.

Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896 Wheat and Cotton Prices and Consumer Price Indexes, 1865–1896
A slave market in Marrakesh, Morocco. This lithograph is from the 1800s. A slave market in Marrakesh, Morocco. This lithograph is from the 1800s.
Sketch a graph of the inverse of each exponential function. Sketch a graph of the inverse of each exponential function.
The graph of y = sqrt(x) is vertically stretched by a factor The graph of y = sqrt(x) is vertically stretched by a factor
economic question economic question
economic question (having trouble) economic question (having trouble)
Video: Negative Feedback Regulation of Blood Pressure

For a complete list of videos, visit our video library