Colonial production of tobacco satisfied England's mercantilist interests because:
a. it provided a substitute for imported Spanish tobacco.
b. its poor quality discouraged English youth from smoking.
c. it provided a good that could be taxed by the English.
d. it ensured that the colonists would remain dependent on England for food.
a. it provided a substitute for imported Spanish tobacco.
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Use the following diagram to answer the next question.
Which of the following would cause a move from MS1 to MS2?
A. The banking system decides to hold less excess reserves and make more loans. B. The federal funds rate increases. C. The discount rate is increased by the regional Federal Reserve banks. D. The Federal Open Market Committee decides to sell bonds.
The difference between absolute advantage and comparative advantage is called gains from trade
Indicate whether the statement is true or false
Political instability is an impediment to development mainly because it:
A. undermines both domestic and foreign investment in a developing country. B. creates cultural and social differences among groups in developing countries. C. produces excessive levels of domestic saving. D. redistributes income.
Which of the diagrams best portrays an improvement in expected rates of return on investment?
Use the following diagrams for the U.S. economy to answer the following question.
A. A.
B. B.
C. C.
D. D.