Each of the three major waves in 19th-century railroad construction ended due to:
a. major financial crises in the U.S.
b. the involvement of the U.S. in a military conflict.
c. labor unrest that led to work stoppages.
d. shortage of iron.
a. a major financial crises in the U.S.
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Which of the following is NOT a characteristic of the market structure for monopolistic competition?
A) Firms are free to enter and exit. B) Firms are price takers. C) Firms compete on product quality, price, and marketing. D) There are a large number of firms.
Juliana, Gabrielle, and Marcela want to start a business they are the only owners and the company does not issue stock. The type of business they want to start is a
A) partnership. B) corporation. C) sole proprietorship. D) Any of the above could be correct.
A major problem in projecting with a trend line is that
A) only straight-line projections can be accommodated. B) it is valid only if the trend is upward. C) it will not forecast turning points in activity. D) it is a very complex method of forecasting.
A mathematical technique used to solve constrained optimization problems (finding the consumer optimum, for example) is:
A) the method of Lagrange multipliers. B) the Cobb-Douglas method. C) the Slutsky method. D) the Hicks substitution method.