During the antebellum period, two systems of land use emerged—the self-sufficient system of the North, which did not rely on specialization, and the specialized system of the South, which concentrated the use of slaves
Indicate whether the statement is true or false
True
You might also like to view...
One difference between oligopoly and monopolistic competition is that
A) a monopolistically competitive industry has fewer firms. B) in monopolistic competition, the products are identical. C) monopolistic competition has barriers to entry. D) fewer firms compete in oligopoly than in monopolistic competition.
The World Bank has extended loans to the government of a developing country to finance construction of a canal with a certain future flow of earmings Now, however, the government has decided to redirect those funds to build a casino that may or may not generate suficient profits to allow the government to repay the loan This situation is an example of
a. Systemic Risk b. Moral Hazard c. Adverse Selection d. Asymmetric Information e. Principle Agent Problem
Bounded rationality suggests that
A) individuals might make "incorrect" decisions because they are unable to consider all possible options. B) individuals would rather have less choice to more choice. C) rational decisions can only be made when choices are restricted. D) individuals are happier when their choices are restricted or "bounded."
One of the reasons that price elasticities of demand are always stated as positive numbers is because
a. the numerators and denominators of the formula are both negative b. the numerators and denominators of the formula are both positive c. price increases always lead to increases in quantity demanded d. price decreases always lead to decreases in quantity demanded e. price elasticities are always negative, so we ignore the sign