The Industrial Revolution refers to the rise of the modern factory system in ________ during the late eighteenth and early nineteenth centuries.
A. France
B. the United States
C. England
D. Germany
Answer: C
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Compared to Chile (since 1973), Argentine policy has been
a. more favorable to private enterprise b. more monetarist c. more constant d. more successful in macroeconomic terms e. none of the above
The appropriate monetary policy response to a situation with deficient financial liquidity
A) an open market sale of government bonds. B) to do nothing. C) an open market purchase of government bonds. D) to increase reserve requirements.
When a monopolist switches from charging a single price to practicing perfect price discrimination, it reduces
a. total surplus.
b. the quantity produced.
c. the firm's profit.
d. consumer surplus.
Two firms, Acme and FirmCo, have access to five production processes, each of which has a different cost and gives off a different amount of pollution. The daily costs of the processes and the corresponding number of tons of smoke emitted are shown in the table below.Process(smoke/day) A(10 tons/day) B(8 tons/day) C(6 tons/day) D(4 ton/day) E(2 tons/day) Cost to Acme ($/day) $750$800$1,000$1,400$2,000 Cost to FirmCo ($/day) $500$750$1,200$2,200 $4,000Suppose the firms are both currently using process A. If the government requires each firm to reduce pollution by 20%, then the firms will adopt process ________, and a total of ________ tons of smoke will be emitted each day.
A. B; 16 B. A; 18 C. C; 12 D. D; 8