According to Fred Bateman and Thomas Weiss, in terms of industrial capacity in 1860, value added in manufacturing was close to _____ in the North, and _____ in the South
a. $500 million; $500 million
b. $750 million; $500 million
c. $1 billion; $400 million
d. $1.6 billion; $193 million
d. $1.6 billion; $193 million
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If a monopoly firm sells to competitive distributors and the distributors have a constant marginal cost of $5 and they are paying the profit-maximizing wholesale price of $10, what is the retail price of the product?
A) $5 B) $7 C) $15 D) $10
Assume that foreign capital flows from a nation increase due to political uncertainly and increased risk. If the nation has highly mobile international capital markets and a fixed exchange rate system, what happens to the GDP Price Index and reserves account in the context of the Three-Sector-Model? a. The GDP Price Index falls and reserves account becomes more positive (or less negative)
b. The GDP Price Index falls and reserves account remains the same. c. The GDP Price Index and reserves account remain the same. d. The GDP Price Index rises and reserves account remains the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
In the Yap civilization of the South Pacific prior to 1920, large, heavy stones in the shape of a wheel were used as money. Which function of money was probably least served by this form of money?
A) medium of exchange B) store of value C) unit of account D) store of wealth
Which of the following provides health-care coverage to people age 65 and over?
A) Medicaid B) Medicare C) Social Security D) Health-Aid