What was the crucial factor permitting cotton textile production to take off in New England between 1790 and 1815?
(a) The imposition of high tariff rates
(b) A lowering of import tariffs by Britain
(c) The blocking of trade with England through the Embargo and
the War of 1812
(d) A relaxation of regulations restricting exports of machinery
by Britain
(a)
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Distinguish between two kinds of asymmetric information
What will be an ideal response?
The Phillips curve fails to provide a consistent explanation for macroeconomic performance in the United States in the 1960s
a. True b. False Indicate whether the statement is true or false
Stick Storage manufactures and sells computer flash drives. Last year it sold 2 million flash drives at a price of $10 each. For last year, the firm's
a. accounting profit was $20 million. b. economic profit was $20 million. c. total revenue was $20 million. d. explicit costs was $20 million.
A firm will shut down if
a. P > AVC at all levels of output. b. P < AVC at all levels of output. c. AVC > AFC at all levels of output. d. TR > TC at all levels of output. e. P < TVC at all levels of output.