A major impact of the transatlantic telegraph was

A) a reduction in time required to complete a financial transaction between New York and London
B) an increase in labor flows across the Atlantic.
C) a decrease in trade barriers between the United States and Europe.
D) an increase in trade conflicts between the United States and Europe.


A

Economics

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If marginal benefit is less than marginal cost, output is inefficiently high

Indicate whether the statement is true or false

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A portion of a worker's earnings is rent if

A) the worker was the last person hired at the going wage rate. B) the supply curve of labor is horizontal. C) the worker would accept a small wage cut without quitting or working for someone else. D) the worker has industry-specific skills.

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A demand curve:

a. has a positive slope. b. illustrates the negative relationship between price and quantity demanded. c. illustrates the positive relationship between price and quantity demanded. d. is based on the assumption of a stable supply curve. e. shifts about in a random fashion.

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Between 1939 and 1944 the United States' national output

A. remained the same. B. nearly doubled. C. nearly tripled. D. nearly quadrupled.

Economics