Which of the following most accurately describes an impact of the Navigation Acts?
a. Wages of Southern plantation owners increased.
b. Wages of New England sailors increased.
c. Wages of wheat farmers in the Middle Colonies increased.
b. Wages of New England sailors increased. The Navigation Acts made it more difficult (raised the price) for foreign sailors and ships to trade with the colonies. This increase in the price of trading with the colonies led to an increase in demand for merchant ships and companies from New England, and this increase in demand led to higher wages and numbers of sailors hired. Southern plantation owners and Middle colony farmers produced their goods for export. The Navigation Acts, raised the cost of exports to foreign nations, which reduced the quantity sold and produced.
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A side effect of an action that adversely affects the well-being of others is called a
A. complement. B. supplement. C. negative externality. D. marginal cost.
Government regulation in the form of subsidies, tariffs, licensing, and inspections does which of the following?
(a) Creates rents for businesses (b) Offers profits to some businesses at the expense of others (c) Encourages the inefficient use of productive resources (d) All of the above
If an automobile manufacturer has an agreement with its air bag supplier, this is an example of a ________ agreement.
A) rightward B) vertical C) horizontal D) leftward
If all poor families had the same income and no more than 4 persons, nearly one-eighth of the nonaged poor would no longer be counted as poor
Indicate whether the statement is true or false