Between 1967 and 1999, the industrial structure of the U.S. experienced which of the following changes?
(a) The industries experiencing slow or negative growth—primary metals, transportation, mining and steel—sought protection from competition from the federal government.
(b) All major nondurable sectors experienced growth.
(c) Machinery and electronics experienced rapid growth.
(d) All of the above.
(d)
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Joseph Schumpeter's explanation of why economies experience business cycles focuses on
a. the climatic cycles caused by movements in the solar system b. the impact of war activity on the economy c. housing construction d. the clustering of innovations e. the interaction of the multiplier and the accelerator
The lower portion of the circular flow model contains factor markets in which households provide:
A. goods and services. B. savings, spending, and investment. C. natural resources, labor, and capital. D. output of all final goods and services produced.
Between 1810 and 1860, the value of slaves in the United States
a. nearly doubled. b. tripled. c. increased nearly fourfold. d. increased nearly tenfold.
A perfect monopoly:
A. has no competition at all. B. has complete market control. C. restricts output to maximize profits. D. All of these statements are true.