The statistical details on the U.S. balance of international payments between 1790 and 1860 help economic historians determine
(a) what the U.S. sold domestically.
(b) how other countries paid for their own domestic goods and services.
(c) how the U.S. paid other countries for their exports.
(d) changes in domestic trade patterns.
(c)
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What is special about healthcare that makes it a good provided by the government?
What will be an ideal response?
Suppose that you have just read a review of the literature of the effect of beauty on earnings
You were initially surprised to find a mild effect of beauty even on teaching evaluations at colleges. Intrigued by this effect, you consider explanations as to why more attractive individuals receive higher salaries. One of the possibilities you consider is that beauty may be a marker of performance/productivity. As a result, you set out to test whether or not more attractive individuals receive higher grades (cumulative GPA) at college. You happen to have access to individuals at two highly selective liberal arts colleges nearby. One of these specializes in Economics and Government and incoming students have an average SAT of 2,100; the other is known for its engineering program and has an incoming SAT average of 2,200. Conducting a survey, where you offer students a small incentive to answer a few questions regarding their academic performance, and taking a picture of these individuals, you establish that there is no relationship between grades and beauty. Write a short essay using some of the concepts of internal and external validity to determine if these results are likely to apply to universities in general. What will be an ideal response?
Answer the following statement(s) true (T) or false (F)
1. At zero economic profits, a firm covers both its implicit and explicit costs. 2. Variable costs are costs that vary with input. 3. If P < AVC, then a profit-maximizing firm will shut down. 4. As a cost relation, the short-run supply curve shows the marginal cost of producing any given output. 5. As word gets out that a market is profitable, the supply curve will shift to the left.
Which one of the following is a source of organizational power?
A. Vision setting B. Having an appetite for risk C. Having close friends and allies D. Work experience