During the colonial period there were no apparent economies of large-scale production in:
a. rice.
b. wheat.
c. tobacco.
d. indigo.
b. wheat.
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Refer to Figure 35.6: If S1 represents the U.S. domestic supply of a good, what does S2 most likely represent?
A. U.S. supply under quota-restricted trade. B. Production possibilities under conditions of free trade. C. U.S. supply under tariff-restricted trade. D. The result of a foreign country dumping this good on the U.S. market.
The introduction of new technologies ________ the real interest rate and ________ the equilibrium quantity of national saving.
A. decreases; decreases B. increases; increases C. increases; decreases D. decreases; increases
Lauren has a savings account into which she puts money every month so she will eventually have enough for a down payment on a house. This is an example of which function of money?
a) Barter b) Medium of exchange c) Store of value d) Unit of account
Refer to the data provided in Table 9.3 below to answer the following question(s). Table 9.3qTFCTVCTCMCAVCATC0$100 $0$100 ---- -- 1100401404040 140 21006016020 30 80 31009019030 30 63.334100124 224 343156 5100180 280 56 36 56 6100 264 364 84 44 60.677100 372 472 108 53.14 67.43Refer to Table 9.3. In the long run, if cost conditions do not change, this firm will earn a zero economic profit if price is
A. $20. B. $30. C. $40. D. $56.