The History of the Standard Oil Company
a. was commissioned by John D. Rockefeller in 1911.
b. set the standard for modern scientific management.
c. was written by Ida Tarbell.
d. was highly critical of Standard Oil.
e. Both c and d are correct.
e. Both c and d are correct.
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Explain the concept of "learning by doing" with respect to infant industry protection
What will be an ideal response?
The primary function of the International Monetary Fund is
A) to provide loans only to private firms in developing countries. B) to make direct, irrevocable transfers of funds from wealthy nations to poor nations. C) to lend solely on the basis of a nation's relative poverty. D) to make loans aimed at promoting global stability and hence growth.
According to basic supply and demand analysis, when hurricane Katrina caused oil prices to rise, what happened to the equilibrium price and quantity of sport utility vehicles?
A. Equilibrium price and quantity both increased. B. Equilibrium price and quantity both decreased. C. Equilibrium price increased, and equilibrium quantity decreased. D. Equilibrium price decreased, and equilibrium quantity increased.
The scientific method is:
A. not applicable to economics because economics deals with human beings. B. also known as the economic perspective. C. analysis that moves from broad generalizations called laws to theories and then to hypotheses. D. used by economists and other social scientists, as well as by physical scientists and life scientists, to formulate and test hypotheses.