Between the end of the Civil War and the beginning of World War I, the U.S. economy was not able to effectively absorb the millions of immigrants it received
Indicate whether the statement is true or false
False
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The median voter theorem states that the outcome of a majority vote is likely to represent the preferences of the voter who is in the political middle
Indicate whether the statement is true or false
Denmark has a comparative advantage in cheese production, and Holland has a comparative advantage in beer production
The two countries initially trade cheese and beer based on their comparative advantages, but the government of Denmark later closes the border to trade with Holland. What is the likely impact of this trade restriction? A) Danish cheese consumers are worse off, and beer producers in Holland are better off. B) Cheese consumers in both countries are worse off. C) Beer consumers in Holland are worse off, and cheese producers in Denmark are better off. D) Beer consumers in Holland are better off, and cheese producers in Holland are better off.
Other things constant, as the price of a resource increases,
a. the quantity of the resource demanded falls. b. the quantity of the resource supplied falls. c. the price of the product the resource helps to produce falls. d. there is less of an incentive for users of the resource to find substitute resources.
The return received by the owners of capital is called the ________________________.
Fill in the blank(s) with the appropriate word(s).