Which of the following regions tended to support federal construction of a system of roads in the 19th century?
a. the South
b. New England
c. Mid-Atlantic states, including New York and Pennsylvania
d. the West
e. All of the above.
d. the West
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Refer to Table 8-18. What is nominal GDP in 2016 when 2011 is the base year?
A) $28,885 B) $11,790 C) $11,200 D) $10,275
During certain periods in the past few decades, if one of the three major breakfast cereal producers in the United States announced a price increase, the other two announced a similar price increase. This is a good example of
a. monopolistic competition b. a cartel c. a pure monopoly d. the kinked demand curve model of oligopoly e. the price leadership model of oligopoly
The ability to shift a tax burden depends on the relative elasticities of demand and supply for the taxed commodity.
Answer the following statement true (T) or false (F)
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.