The European subjugation or displacement of Native Americans from their lands
(a) was justified largely on the grounds that "might makes right."
(b) was justified largely on the grounds of the "divine right of kings."
(c) derived from the Christian belief of a right of conquest over non-Christian people.
(d) was none of the above.
(c)
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If workers and firms lower their inflation expectations
A) actual inflation will fall to match expected inflation. B) unemployment will rise. C) the short-run Phillips curve will be vertical. D) the short-run Phillips curve will shift downward.
Monopolizing the sale of liquor
A) can lead to an increase total welfare. B) will decrease total welfare. C) results in a deadweight loss. D) is anti-competitive and thus lowers total welfare.
A perfectly elastic supply curve
a. has an elasticity of 1 b. has an elasticity less than 1 c. has an elasticity of 0 d. is horizontal e. is upward sloping
The classical model
a. relies on the equivalency of the labor, capital, and land resource markets b. includes a land market and a labor market c. focuses primarily on capital markets d. focuses primarily on labor markets e. focuses on labor, capital, and land markets