The American Revolution resulted in
(a) a loss of British military assistance, governmental expertise, judicial assistance and public funding for wars.
(b) greatly expanded rights for wage workers and indentured servants.
(c) significant change with respect to market behaviors, ownership of property and individual freedom.
(d) a dramatic change in laws and the ownership of property.
(a)
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The European Union policy almost automatically presumes that a single firm with a market share that exceeds ________ percent is dominant.
A) 30 B) 50 C) 75 D) 80
Workers in country A receive an increase in wages of 10 percent at the same time the inflation rate in country A is 8 percent. Workers in country B receive an increase in wages of 3 percent and the inflation rate in country B is 1 percent. In which country are workers better off?
a. Country A because their real wages rise by 18 percent. b. Country A because their real wages rise by 10 percent. c. Country B because the inflation rate is lower. d. Neither country because the increase in real wages is the same.
When buying a used car from a dealer, showing up in cheap clothing and ungroomed is an example of:
A. statistical discrimination. B. signaling. C. screening. D. building a reputation.
In the summer of 2008, consumers indicated that they were less optimistic about the future of the economy. Such a change in sentiment is likely to
a. shift aggregate demand to the left. b. increase output. c. decrease unemployment. d. increase prices.