What best describes the US experience with banking from 1785 until the Civil War?
a. There was a national bank for the entire time period.
b. The first two national banks were largely foreign owned.
c. Only gold was used to back currency.
d. Only national banks could print notes.
b. The first two national banks were largely foreign owned.
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In reference to worldwide competition laws, each of the following are fundamentally prohibited or highly suspicious among regulators across almost all countries except which one?
A) creation of cartels B) charging unfairly high prices C) dominant firms D) monopolies
Simplicity and fruitfulness are virtues when it comes to judging
a. normative economics b. economic models c. positive economics d. consumer sovereignty e. market performance
When the government provides a public good such as a highway,
a. society benefits without necessarily involving a reallocation of resources b. only highway users benefit and that occurs without necessarily involving a reallocation of resources c. it uses resources, but the benefits are so great there is no resource reallocation effect d. it necessarily reallocates resources away from the production of other goods e. it has the same resource allocation effect on the economy as a government transfer payment
The symbol for the variance of a sample of observations (of a quantitative variable) is:
a. s2 b. a2 c. s d. a