From 1680 to 1770 average ship speeds:
a. increased by 100 percent.
b. increased by 80 percent.
c. increased by 75 percent.
d. decreased by 50 percent.
e. did not change appreciably.
e. did not change appreciably.
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An increase in population growth in a country
A) always causes an increase in labor resources. B) may not necessarily cause an increase in per capita real GDP. C) may not cause an increase in labor resources in rich countries because employers will cut down on the number of hours required of workers. D) will always cause an increase in per capita real GDP.
On a bank's T-account, which are part of the bank's assets?
a. both deposits made by its customers and reserves b. deposits made by its customers but not reserves c. reserves but not deposits made by its customers d. neither deposits made by its customers nor reserves
If a “liberal” wanted to decrease aggregate demand, which of the following would he or she tend to favor?
A. An increase in government spending, because it will increase the size of the public sector. B. A decrease in government spending, because it keeps the public sector small. C. An increase in transfer payments, because it has a larger multiplier than tax changes. D. An increase in taxes, because it makes the public sector larger.
Suppose a consumer with an income of $100 is faced with Px = 1 and Py = 1/2. What is the market rate of substitution between good X (horizontal axis) and good Y (vertical axis)?
A. -1.0 B. -2.0 C. -4.0 D. 0.50