One of the most important reasons for the economic growth of the U.S. in the antebellum period was market unification and falling costs of trade. Samuel F. B. Morse contributed significantly to these trends. Morse is most recognized for:
a. Inventing the telegraph.
b. Inventing the steam engine.
c. Developing the technology to power railroad engines.
d. Overseeing the building of the Erie Canal.
a. Inventing the telegraph.
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Critics of affirmative action programs argue that they
a. promote statistical discrimination. b. impair economic efficiency by preventing firms from freely choosing the most productive employee for a particular job. c. are not as efficient as quota systems at hiring women and minorities. d. All of the above are correct.
How do transfer payments function as negative taxes?
A risk-neutral monopoly must set output before it knows the market price. There is a 50 percent chance the firm's demand curve will be P = 40 ? Q and a 50 percent chance it will be P = 60 ? Q. The marginal cost of the firm is MC = 3Q. What is the expression for the expected marginal revenue function?
A. E(MR) = 30 ? 2Q B. E(MR) = 50 ? 2Q C. E(MR) = 60 ? 2Q D. E(MR) = 40 ? 2Q
In 2014, remittances was over:
A. $590 Billion. B. $60 Billion. C. $1 Trillion. D. $500 Million.