What does the study of the balance of international trade and finance between 1790 and 1860 help American economic historians do?
(a) Understand what the U.S. sold to the rest of the world
(b) Understand what the rest of the world sold to the U.S.
(c) Determine if there is a link between these international patterns and
economic growth in the U.S.
(d) All of the above
(d)
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When good weather speeds the check-clearing process, float tends to ________ causing the Fed to initiate defensive open market ________
A) decrease; sales B) decrease; purchases C) increase; sales D) increase; purchases
A consumption function is used to illustrate the choices a consumer faces in a world of scarcity
a. True b. False Indicate whether the statement is true or false
Suppose the price of one euro is fixed at $1.00. A Dutch oil company discovers new oil reserves in the North Sea and offers the oil for sale. What is the impact on the foreign exchange market?
a. The dollar price of euros decreases from $1.50 to $1.00.
b. Decreasing demand for European goods shifts D2 to D1.
c. U.S. consumers demand more European goods shifting D1 to D2.
d. The quantity of euros demanded changes from Q2 to Q1.
The following is cost information for the Creamy Crisp Donut Company: Entrepreneur's potential earnings as a salaried worker = $50,000 Annual lease on building = $22,000 Annual revenue from operations = $380,000 Payments to workers = $120,000
Utilities (electricity, water, disposal) costs = $8,000 Value of entrepreneur's talent in the next best entrepreneurial activity = $80,000 Entrepreneur's forgone interest on personal funds used to finance the business = $6,000 Refer to the data. Creamy Crisp's total economic costs are: A. $286,000. B. $150,000. C. $94,000. D. $156,000.