The Southern Colonies' exports went primarily to
a. the United Kingdom.
b. continental Europe.
c. the West Indies.
d. Africa.
a. the United Kingdom.
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When Acme Inc produces a certain amount of output by using the least amount of inputs, Acme Inc definitely
A) maximizes profits. B) minimizes labor costs. C) achieves technological efficiency. D) achieves economic efficiency.
The cross-price elasticity of demand measures the
A) percentage change in the quantity demanded of one good in one location divided by the price of the same good in another location. B) absolute change in the quantity demanded of one good divided by the absolute change in the price of another good. C) percentage change in the quantity demanded of one good divided by the percentage change in the price of another good. D) percentage change in the price of one good divided by the percentage change in the quantity demanded of another good.
The U.S. dollar exchange rate is determined by the:
a. World Bank. b. Federal Reserve. c. Forces of supply and demand. d. International Monetary Fund. e. U.S. government.
When management shuts down a plant and does not allow workers to perform their jobs, there is a
A. Walkout. B. Strike. C. Strikebreaker. D. Lockout.