The proportion of Southern farms relying on slaves rose between 1840 and 1860 . Plus, the scale economies of slavery aggravated the chronic shortage of good Southern farmland
Indicate whether the statement is true or false
False
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Trade between countries is only based on absolute advantage
Indicate whether the statement is true or false
Open market operations is the
a. tool most often used by the Fed to alter the money supply. b. least effective tool the Fed has to alter the money supply. c. tool used by the Treasury to raise tax revenues. d. tool used by the Fed to regulate stock market activities.
Alan Greenspan, former Chairman of the Federal Reserve, discussed the advantages of which kind of tax system, "particularly if one were designing a tax system from scratch"?
a. a progressive tax system b. a regressive tax system c. a consumption tax d. a lump-sum tax
The reason that the prisoner's dilemma presents a dilemma is that:
A. each player has an incentive to play his or her dominant strategy, but when both choose the dominant strategy each player has a lower payoff than if they both had chosen the dominated strategy. B. each player has an incentive to play his or her dominated strategy, but when both choose the dominated strategy each player has a lower payoff than if they both had chosen the dominant strategy. C. neither player has a comparative advantage, so neither can infer what the other player will choose. D. the market cannot be in equilibrium because the players do not have dominant strategies.