What caused the dramatic reversal in relative economic positions of the North and South after the Civil War?
a. economic advances in the north and mid-west
b. technological advances in New England industries
c. increases in Northern exports to Europe
d. decline in southern output
d. decline in southern output.
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When is a collusive agreement between two firms likely to break down?
What will be an ideal response?
In the simple deposit expansion model, an expansion in checkable deposits of $1,000 when the required reserve ratio is equal to 10 percent implies that the Fed
A) sold $1,000 in government bonds. B) sold $100 in government bonds. C) purchased $1000 in government bonds. D) purchased $100 in government bonds.
If real output grows at 3 percent per year and the inflation rate is 3 percent per year then government debt can grow by 6 percent per year and not increase the ratio of debt to income
a. True b. False Indicate whether the statement is true or false
With the Coase theorem, the private solution yields:
A. a less efficient outcome than a government solution would. B. the same amount of efficiency a government solution would. C. a more efficient outcome than a government solution would. D. None of these statements is true.