Slaves were
(a) unprofitable substitutes for wage labor on plantations.
(b) profitable complements to capital equipment.
(c) denied the use of shovels, hoes and axes.
(d) all of the above.
(b)
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If the Fed increases the quantity of money, in the short run the ________ and in the long run the ________
A) nominal interest rate falls; the price level falls B) nominal interest rate falls; the price level rises C) price level rises; the nominal interest rate falls D) nominal interest rate rises; the price level falls E) nominal interest rate rises; the price level rises
More stable macroeconomic policy does not contribute to less variability in real output
a. True b. False Indicate whether the statement is true or false
To an economist, the cost of a college education
a. includes the income that the student could have earned during the time spent in college. b. can be measured solely by the dollar cost of tuition, books, and other fees. c. includes only the cost of schooling, not the cost of housing and food. d. excludes financial aid in computation of the cost of schooling. e. All of the above are correct.
When a country eliminates tariffs and other trade restrictions, intending to promote economic growth, it is pursuing _______–oriented policies
Fill in the blank(s) with correct word