Andrew Carnegie dominated the steel industry on the basis of the Bessemer converter. This technology permitted unskilled men to produce large quantities of steel at relatively low costs. This technology was
(a) invented by Carnegie.
(b) stolen from the British inventor Bessemer.
(c) acquired legally from the British inventor Bessemer.
(d) imported from Germany.
(c)
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When the Dallas Cowboys score more than 30 points in a game, they win the game. This is an example of
A) an economic theory. B) a correlation. C) an incentive to win the game. D) a normative statement. E) a statement on the margin.
Under the Bretton Woods exchange rate system, ________ could sell their dollars to the American government in exchange for gold
A) American citizens B) foreign central banks C) foreign citizens D) all of the above
Traders working for banks are subject to the
A) principal-agent problem. B) free-rider problem. C) double-jeopardy problem. D) exchange-risk problem.
A common tool for restricting trade through taxation is:
A. a tariff. B. immigration restrictions. C. international waters use policies. D. quota.