Albert Fishlow argued that if the railroads were built ahead of demand we would observe initial profit rates that were ______ and initial population densities near railroads that were _______
a. low; high.
b. high; low.
c. low; low.
d. high; high.
c. low; low.
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Suppose that in the year 2015 our national debt were $8 trillion and our budget deficit were $250 billion. If a plan to gradually reduce the deficit and to balance the budget in the year 2025 were successful, make an estimate of the national debt in 2025.
What will be an ideal response?
A firm that has market power has the ability:
A. to affect the price of its own product. B. to conduct illegal activities without fear of prosecution. C. to command consumer to buy any quantity from them. D. to drive its competition out of the market.
If the U.S. government places tariffs on imports from countries that have been accused of deliberately undervaluing their currencies, the price of these imports will ________ and the demand for the undervalued currency will ________
A) rise; fall B) fall; rise C) rise; rise D) fall; fall
In the late 1990s, Thailand, Malaysia, and Indonesia all experienced sharp declines in the value of their currencies; this resulted in economic instability and crisis. The collapse in the values of their currencies undermined their development by:
A. decreasing political instability. B. decreasing population growth. C. increasing corruption. D. reducing investment.