Engerman's (1971) studies of the Civil War (1861–1865)'s impact on industrialization
(a) support the previous work of Hacker and Beard.
(b) showed that the War sped up the ongoing processes of industrialization.
(c) showed that the War effort slowed down industrialization.
(d) restricted the real cost of the War to the South.
(c)
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Why does your marginal rate of substitution between chocolate and vanilla ice cream decline continuously as you move rightward on your indifference curve between the two?
What will be an ideal response?
Under which of the following circumstances is the principal-agent problem likely to be most serious
a. Between general practitioners and patients. b. Between surgeons and patients. c. Between hospitals and nurses. d. Between dentists and physicians. e. Between physicians and lawyers.
One of the functions of the Federal Reserve System is the
a. issuance of federal government bonds b. collections of tax revenues from banks c. spending of federal funds on construction projects d. manufacturing of coins e. clearing of checks between banks located in different parts of the country
In an economy that relies on barter, trade requires a double-coincidence of wants
a. True b. False Indicate whether the statement is true or false