Which of the following was not a major source of economic growth in the 1920s?
a. construction of residential housing
b. production of consumer durables
c. railroad construction
d. automobile production
c. railroad construction
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In many corporations, the managers of the corporation run the corporation, although the shareholders own the corporation. In this situation
A) there is no corporate governance. B) there is separation of ownership from control. C) there are no outside directors on the board of directors. D) there are no inside directors on the board of directors.
When there are implicit costs of production,
a. accounting and economic profit are equal b. opportunity costs of production are zero c. explicit costs of production are small d. accounting profit will exceed economic profit e. economic profit will exceed accounting profit
If a rich country reduced subsidies to domestic producers of goods that poor countries have a comparative advantage producing, the standard of living in these poor countries would likely rise
a. True b. False Indicate whether the statement is true or false
Moral hazard encourages people to take risks.
Answer the following statement true (T) or false (F)