Which of the following explains the slower economic growth in the South compared to other regions of the country?
A. Much of the South's capital, public and private, was destroyed in the Civil War.
B. The transcontinental railroads that were completed in the 1860s, 1870s, and 1880s all bypassed the South.
C. The South remained an agricultural region after the Civil War instead of immediately becoming a higher productivity manufacturing region.
D. All of the choices are true.
D. All of the choices are true.
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Answer the following statement(s) true (T) or false (F)
1. Ambient standards identify the desired level of environmental level to be achieved, typically expressed as a maximum allowable concentration of a pollutant. 2. Standards are the fundamental basis of most environmental policies. 3. A standard that specifies a pollution limit along with the equipment to be used to achieve that limit is called a performance-based standard. 4. If an environmental standard is set at a level where the associated marginal abatement cost (MAC) is equal to the marginal social benefit (MSB), it is considered an allocatively efficient standard. 5. Marginal social benefit (MSB) of abatement can be thought of as the reduction in damages linked to reducing pollution.
In the Keynesian model, changes in the money supply cause changes in
A) saving. B) investment. C) government spending. D) aggregate supply.
If the price is less that the firm’s AVC, the firm’s output
A. is determined by the relationship between MC and AVC. B. will drop to zero. C. will change to where MC = ATC. D. will increase to where P = AC.
Trade restrictions imposed in the name of national security have been recommended by protectionists in order to:
a. develop strong defense-related industries. b. avoid dependence on foreign suppliers during wartime. c. reduce the necessity of stockpiling strategic supplies. d. all of these.