American economic history actually is a study of
(a) stable population growth.
(b) how colonial Americans worked side-by-side with the natives to produce
stable economic growth and wealth for all individuals.
(c) how a small, inconsequential economy grew into a giant economy
through a series of successes and failures.
(d) how people in other countries created problems for colonial Americans
of the past as well as U.S. citizens of today.
(c)
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Suppose a single-price monopoly sells 3 units of a good at $20 per unit. If the monopoly sells 4 units, the total revenue increases to $72. What is the marginal revenue of the fourth unit?
A) $52 B) $18 C) $60 D) $12 E) $20
List factors that increase the price elasticity of supply
What will be an ideal response?
If the dollar value of a country's exports is greater than the value of its imports,
What will be an ideal response?
There is a surplus in a market for a product when:
a. The increase in demand is greater than the decrease in supply b. Quantity supplied is less than quantity demanded c. Quantity demanded is less than quantity supplied d. The decrease in supply is greater than the increase in demand