Economic conflict(s) leading to the Civil War ___________________________.
A. were over tariffs and the extension of slavery into the new territories
B. was the growing free trade with England
C. was Abraham Lincoln freeing the slaves
D. None of the choices are true
A. were over tariffs and the extension of slavery into the new territories
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A monopolist has the power to set price, but is not entirely free to set the price of its product. Explain
What will be an ideal response?
Economies of scale refers to when:
A. an increase in the quantity of output decreases average total cost in the long run. B. an increase in the quantity of output increases average total cost in the long run. C. average total cost does not depend on the quantity of output in the long run. D. None of these is true.
Why do public schools typically require proof that children have been immunized before enrolling?
A. It is an efficient way to publicize the need for immunizations. B. People don't realize that becoming vaccinated entails no risk. C. It is a costly to fake signal that a child is healthy. D. People do not adequately account for the external cost of not vaccinating their children.
Suppose a firm has an annual budget of $200,000 in wages and salaries, $75,000 in materials, $30,000 in new equipment, $20,000 in rented property, and $35,000 in interest costs on capital. The owner/manager does not choose to pay himself, but he could receive income of $90,000 by working elsewhere. The firm earns revenues of $360,000 per year. What are the annual implicit costs for the firm described above?
A. $160,000. B. $360,000. C. $90,000. D. $450,000.