Before the nation's first transcontinental railroad was completed, travelers to the Pacific Coast used which forms of transportation?
a. ship, wagon
b. dugout canoe, dirigible
c. horse
d. All of the above are correct.
a ship, wagon
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On May 12, 2011, the U.S. dollar was worth 28 Russian rubles. How many U.S. dollars did it take to buy one Russian ruble?
a. 0.01 b. 0.04 c. 0.28 d. 0.40
At one time, it was believed that the way for a nation to prosper was to export as much as possible while importing as little as possible. More money would flow into a country than out of a country. Is this really a sound economic strategy? What is the relationship between exports and imports?
Which of the following statements is false?
A) An upward-sloping supply curve graphically represents the law of supply. B) A vertical supply curve graphically represents the law of supply. C) If income rises and good X is a normal good, then the demand for good X will rise. D) If income falls and good Y is an inferior good, then the demand for good Y will rise.
In a pure monopoly, price of a product is determined by which of the following?
a. Consumer Price Index (CPI) b. Regulatory body c. Referendum to the voters d. Alternative product pricing strategy