When a quota on a product is eliminated, the ones who benefit the most are the
A. domestic consumers of the product.
B. foreign consumers of the product.
C. domestic workers in industries producing the product.
D. domestic producers of the product.
Answer: A
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The basic nature of the real property tenure that was transferred here from England included all of the following characteristics of ownership except
(a) Ownership by purchase was perpetual as long as taxes due were met. (b) Land could descend to heirs either by will or inheritance. (c) Ownership included surface resources but not subsurface resources or mineral rights, like iron ore, whose ownership was retained by the state. (d) The right to exploit owned resources (right of waste) was complete.
The research of Gavin Wright (1978) on the antebellum period suggests that
(a) there was no limit on the profitability of the plantation utilizing slave labor. (b) issues with management, communication and discipline limited the profitability of the slave plantation. (c) more than 75 percent of the Southern farms were plantations and utilized slave labor. (d) all of the above.
Which of the following statements provides the most accurate description of the employment growth rate in various sectors of the economy between 1860-1910?
a. All major sectors grew with the exception of agriculture and construction. b. All major sectors grew, and agriculture grew the most. c. The manufacturing sector grew the most, followed by railroads, but agricultural employment decreased. d. All major sectors grew, and railroads grew the most.
Given upward-sloping supply curve, all other things remaining constant, a decrease in demand will lead to a(n) _____
A) increase in supply. B) decrease in supply. C) increase in quantity supplied. D) increase in the equilibrium price. E) decrease in the equilibrium price.