Between 1860 and 1910, value added by the top ten manufactures roughly
a. doubled.
b. tripled.
c. increased by 500% (a factor of five).
d. increased by 1000% (a factor of ten).
d. increased by 1000% (a factor of ten).
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Suppose the production possibilities for two countries, producing either food or clothing, are shown in the above figure. They can each produce any linear combination as well. Once free trade is allowed, Canada will produce
A) no clothing. B) 10 units of clothing. C) 20 units of clothing. D) 5 units of clothing.
Which of the following is not an example of a government purchase?
a. Salaries of teachers in public schools b. Chinese toys to be sold in stores c. Purchase of military aircrafts d. Construction of an interstate highway e. Building a public school
The entry of new firms into an industry will very likely
a. shift the industry supply curve to the right. b. cause the market price to fall. c. reduce the profits of existing firms in the industry. d. All of the above are correct.
Which of the following operate under a fixed-rate unified currency system?
a. the 12 countries of the European Monetary Union b. the 50 states of the United States c. Hong Kong, Panama, and the United States d. all of the above