The American Revolution changed the basic structure of private property rights inherited during the colonial period
Indicate whether the statement is true or false
False
You might also like to view...
What was the most important consequence of suburbanization?
A. It made people less dependent on their cars. B. It was very bad for the construction industry. C. It left the cities with large concentrations of poor people. D. It raised the tax bases of most cities.
In Figure 9-13, the movement of equilibrium from point D to point C could be caused by
a. a decrease in supply from S2 to S1 in response to economic profits following a decrease in demand from D2 to D1
b. a short-run increase in supply from S1 to S2
c. an increase in supply from S1 to S2 in response to economic profits following an increase in demand from D1 to D2
d. external economies
e. in the short run, by an increase in demand from D1 to D2
Suppose the government reduces marginal income tax rates and increases welfare payments. This policy combination will:
A. increase the incentive to work. B. have no effect on the incentive to work. C. have an ambiguous effect on the incentive to work. D. reduce the incentive to work.
Which of the following statements concerning the supply of labor is true?
A. The wage rate has no effect on the supply of labor. B. The labor supply curve is downward sloping. C. The supply of labor is determined by the prevailing wage rate. D. The typical labor supply curve is upward sloping.