In Brinley Thomas' (1954) theory of the Atlantic Economy,
(a) cotton exports to Europe drove the growth of the U.S. economy.
(b) people and capital moved to the U.S. when U.S. economic growth was strong.
(c) the peaks of the U.S. business cycle were closely aligned with that of European peaks.
(d) all of the above are true.
(b)
You might also like to view...
Because money growth is a major component determining the inflation rate, in order to forecast inflation we should forecast actions by the
A) Congress. B) President. C) Fed. D) Office of the Treasury. E) U.S. Mint.
If the absolute value of the price elasticity of demand for DVD movies is 0.8 then the elasticity of demand of the DVD for the movie The Hangover should be
A) less then 0.8 in absolute value. B) equal to zero because the DVD of this movie has been out for several years. C) equal to 1 in absolute value. D) greater than 0.8 in absolute value.
Refer to the table below. What is Crunchy Fruits total marginal cost to produce 11,750 units?
Crunchy Fruits makes dried fruit snacks. Crunchy Fruits has a multi-plant firm with two production facilities. The table above summarizes the marginal cost of production at the individual plants and the corresponding quantity produced at the individual plants.
A) $2.00
B) $2.25
C) $3.25
D) $1.25
The last time a recession hit the country of Valtonia, the price of real estate fell significantly. When Craig learns that this country's stock market has crashed, he immediately decides to sell his houses. This is an example of the theory of _____
a. absolute advantage b. rational expectations c. adaptive expectations d. sticky wages