The direction of colonial trade produced great trade deficits with England, especially in the New England Colonies. Consequently, growth and development were stifled in colonial America
Indicate whether the statement is true or false
False
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Price floors and price ceilings
A) always reduce total surplus. B) reduce consumer surplus and increase producer surplus. C) reduce producer surplus and increase consumer surplus. D) Not enough information to determine.
A stockholder who owns 1,000 shares of the corporation's 100,000 shares is entitled to what percentage of the vote in an election of corporate officers?
a. 1% b. 2% c. 5% d. 10%
Which of the following is not a characteristic of a perfectly competitive market?
a. Sellers set the price of the product. b. There are many sellers. c. Buyers must accept the price the market determines. d. All of the above are characteristics of a perfectly competitive market.
Which of the following is not an example of a trade restriction?
A) tariffs B) quotas and voluntary export restraints C) legislation requiring that cars sold in a country have a 50 percent domestic content D) consumer preferences for goods produced domestically