Fogel's (1964) work on railroads after the Civil War shows that they did not dominate the markets for steel, coal or wood
Indicate whether the statement is true or false
True
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The key element in preserving a monopoly is
A. government subsidy of critical enterprises. B. keeping potential rivals out of the market. C. guaranteeing availability of substitute products. D. increased advertising expenditure.
Gold is an excellent store of value because of its
a. divisibility, portability, and homogeneity b. divisibility and durability c. durability and relative scarcity d. durability and homogeneity e. divisibility, durability, and relative scarcity
If Mexico experiences a period of stable prices while the United States experiences rapid inflation, what will happen in Mexico?
a. an increase in aggregate supply b. a decrease in aggregate supply c. a decrease in aggregate demand d. an increase in aggregate demand
Autonomous spending rises by $10 billion and Real GDP rises by $50 billion. What does the marginal propensity to save equal?
A) 0.10 B) 0.20 C) 0.80 D) 0.90 E) 0.50