One interesting aspect of the California Gold Rush was
a. the initial absence of property rights to land.
b. the use of indentured servants as a labor force in mines.
c. the absence of violence in the gold fields.
d. the formation of unions that negotiated wages and hours on behalf of miners.
e. Both a and c are correct.
e. Both a and c are correct.
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One of the components of the consumption function is induced consumption and this consumption is induced by changes in the
a. price level b. level of income c. interest rate d. level of investment e. level of saving
Which of the following activities is most likely to be considered rent seeking?
A. Buying an apartment building B. Hiring a lobbyist C. Voting for a politician who supports government spending D. Buying common stock
There is a general overall ________ relationship between the price level and ________.
A. negative; aggregate expenditures B. negative; nominal expenditures from the government C. positive; aggregate expenditures from the government D. positive; nominal expenditures from households
If a 10% decrease in the price of a good leads to a 20% increase in the quantity demanded, then what is the price elasticity of demand?
A. ½. B. 2. C. 20. D. 10.