Between 1864 and 1900, the largest portion of railroad track (as a percentage of total annual construction) was laid in which region of the U.S.?
a. the Southeast
b. the Northeast
c. the Pacific Northwest
d. the Great Plains region
d. the Great Plains region
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A movement upward along an upward-sloping Engel curve corresponds to
A) upward-sloping indifference curves. B) crossing indifference curves. C) a rotation in the budget constraint. D) a parallel shift in the budget constraint.
Intermediate goods and services are:
A. used only as inputs to produce something else and are not counted as separate items in GDP. B. goods that consumers buy in parts-like a new tire for their car-and are included as separate items in GDP. C. goods that consumers buy in parts-like a new tire for their car-and are not included as separate items in GDP. D. used only as inputs to produce something else and are counted as separate items in GDP.
In the United States, the wage floor legislated by government below which it is generally illegal to pay workers is known as
A) the minimum wage. B) the wage ceiling. C) the employment gap. D) the going wage.
Money's medium of exchange function helps to compute the real value of labor
Indicate whether the statement is true or false