The largest colony in 1770 in both population and claims on hinterlands was
(a) Massachusetts
(b) Pennsylvania
(c) Virginia
(d) New York
(c)
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Suppose a country experiences an increase in output per worker. Such a development represents which of the following?
A) an increase in labor productivity B) an increase in population growth C) a reduction in the saving rate D) a decrease in economic growth
Federal law required that no two Federal Reserve Board Governors come from the same
A) state. B) political party. C) industry. D) Federal Reserve district.
A country's balance on current account will always equal its balance on capital account
a. True b. False Indicate whether the statement is true or false
In the long run when a perfectly competitive firm experiences positive economic profits
A) firms exit the industry, the market supply curve shifts rightward, and the market price falls. B) firms enter the industry, the market supply curve shifts rightward, and the market price falls. C) firms exit the industry, the market supply curve shifts leftward, and the market price rises. D) firms enter the industry, the market supply curve shifts rightward, and the market price rises.