What was not true about the New England colonial economy?
a. Fishing was a major economic activity.
b. It was a net importer of food and fiber.
c. Shipping was a major economic activity.
d. It was the most productive area in terms of agriculture.
d. It was the most productive area in terms of agriculture.
You might also like to view...
Real wages fall if prices increase more than nominal wages
Indicate whether the statement is true or false
Labor markets are generally perfectly competitive markets.
Answer the following statement true (T) or false (F)
Suppose the Tidy Laundry Detergent Company, which sells 40% of all detergent, is thinking about raising its price. Before Tidy makes the change, they analyze the likely responses of the All-Clean Detergent Company, which sells 35% of all detergent, and Cheerful Detergent Company, which sells 20% of all detergent. Tidy's behavior showsÂ
A. mutual interdependence in pricing decisions. B. nonprice competition. C. difficult entry in oligopolies. D. collusion.
Suppose that for Virginia the marginal benefit per dollar spent on make-up is less than the benefit per dollar spent on clothes. Virginia can always increase her utility by buying:
A. more make-up and fewer clothes. B. less make-up and more clothes. C. more of both goods. D. Virginia is already maximizing utility.