Among the key ingredients that propelled the American economy to emerge as the leading industrial power by the beginning of World War I were
A. the world's first universal public education system.
B. a large agricultural surplus.
C. entrepreneurial abilities of great industrialists.
D. all of the choices are true.
D. all of the choices are true.
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A cash item in the process of collection is
A) a U.S. Treasury bill that has matured, but for which the bank has not yet received payment. B) a car loan payment that is due but not yet received by the bank. C) a check drawn against another bank, from whom the funds have not yet been collected. D) currency that has been deposited in the bank, but not yet formally counted and entered into the bank's balance sheet.
Which of the following is true when regulators require a natural monopolist to set price equal to marginal cost?
a. This policy results in a less than socially optimal allocation of resources. b. The marginal cost of producing the last unit sold exceeds the consumers' marginal value for that last unit. c. The monopolist will face recurring losses unless a subsidy is provided. d. The monopolist will earn a normal profit. e. The monopolist will earn more than a fair return.
Which of the following groups has experienced the greatest decrease in poverty rates since 1959?
a. the elderly b. children c. people 18 to 64 years old d. women e. none of the above (i.e., all of these groups have had higher poverty rates)
Which of the following is not a determinant of autonomous consumption?
A. Tax policy. B. Consumer confidence. C. Wealth. D. Technology.