The "duplication laws," passed by Parliament in the late 17th and 18th centuries, restricted colonial export of
a. woolen goods.
b. tobacco.
c. pig iron.
d. cotton.
e. All of the above.
a. woolen goods.
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If the economy is producing at point B, the opportunity cost of gaining 12 units of consumer goods is _______ units of capital goods.
As the quantity of actions taken to reduce the probability of an accident increases, the expected marginal benefit curve ________.
A) decreases B) remains constant C) increases D) becomes vertical
Using a carefully-labeled diagram, explain an Engel curve for a good that is initially a normal good, but eventually becomes an inferior good.
What will be an ideal response?
Which of the following is a true statement?
A. Direct foreign investment to DVCs is increasingly provided by commercial banks. B. Direct foreign investment to DVCs has dwindled to near zero in recent years. C. Approximately 5 percent of the GDP of IACs goes to foreign aid. D. Foreign aid from the IACs to the DVCs has greatly expanded in the past several years.