Land inheritance in the Southern Colonies differed from inheritance in the Middle and New England Colonies in that
(a) the policy of primogeniture was followed in the South, which encouraged the formation of large land-holdings, whereas primogeniture was normally not followed outside the South.
(b) primogeniture was actually followed throughout the colonies but the crops grown in the South, such as tobacco, required larger land-holdings to be profitable than those outside the South.
(c) in the South, the large slave plantations had to be re-granted by the colonial government after the death of the owner, usually to the eldest son, but this was not required outside the South.
(d) all of the above
(a)
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In terms of innovation and growth, the U.S. economic system has far exceeded the achievements of any other type of economy, even in ancient history
a. True b. False Indicate whether the statement is true or false
Assume that the expectation of a recession next year causes business investments and household consumption to fall, as well as the financing to support it. If the nation has low mobility international capital markets and a fixed exchange rate system, what happens to the real risk-free interest rate and GDP Price Index in the context of the Three-Sector-Model?
a. The real risk-free interest rate rises and GDP Price Index rises. b. The real risk-free interest rate falls and GDP Price Index falls. c. The real risk-free interest rate rises and GDP Price Index falls. d. The real risk-free interest rate and GDP Price Index remain the same. e. There is not enough information to determine what happens to these two macroeconomic variables.
In the open-economy macroeconomic model, if there is currently a surplus in the foreign exchange market, the quantity of desired net exports will increase as the market moves to equilibrium
a. True b. False Indicate whether the statement is true or false
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point A to Point B, ________ additional OLED TVs could be produced when the production of LCD TVs is reduced by 30.
A. exactly 20 B. more than 20 C. fewer than 20 D. exactly 90