Which of the following is true?
A. The completion of the transcontinental railroad system in the 1880s eventually made the United States the world's first mass market.
B. Southern manufacturers benefited from high protective tariffs of the 19th century that kept out cheaper Japanese manufactured goods.
C. The canal system linking east-coast rivers with the Great Lakes in the 1820s created an "American economy" rather than just a series of regional economies located in one country.
D. Agricultural inventions such as John Deere's steel plows did little to improve farm productivity.
A. The completion of the transcontinental railroad system in the 1880s eventually made the United States the world's first mass market.
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As part of its proposal to win the 2012 Olympics, London developed a carbon offset plan to reduce the Games' impact on the environment. In 2011, the organizers decided to drop this plan to reduce emissions. We can conclude that
A) the marginal cost of reducing emissions exceeded the marginal benefits of reducing emissions. B) the organizers are not making a rational decision. C) the organizers are ignoring a sunk cost. D) there are no incentives to reduce carbon emissions. E) it is difficult to calculate the cost of reducing emissions.
If a pair-wise majority vote was held and the voters' preferences are in the given table, which option would win the first round of voting?
A. Public transportation
B. Public zoo
C. Public parks
D. It depends on which pair was considered first.
If the Fed wishes to increase the money supply it can:
A. Raise the federal funds rate. B. Sell bonds on the open market. C. Decrease the discount rate. D. Increase the required reserve ratio.
If Synergy Energy Corp. hires attorneys to keep it informed about new regulations, their salaries represent
A. Compliance costs. B. Capital costs. C. Efficiency costs. D. Administrative costs.