For most of the 19th century in the American West, there was
A. an abundance of labor relative to land.
B. abundance of land relative to labor.
C. an abundance of both labor and land.
D. a scarcity of both labor and land.
B. abundance of land relative to labor.
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Suppose a person calculates her permanent income by adaptive expectations. Last year's permanent income was 38,000, this year's actual income is 41,000, j = 0.30, and k = 0.86. What is her consumption expenditure this year?
A) 30,422 B) 12,174 C) 40,226 D) 38,774 E) 33,454
If you put $2,000 in a saving account that earns 3% interest per year, what is the formula you should use to determine the account's future value in one year?
A) Future value = $2,000 × 0.03. B) Future value = $2,000 / 0.03. C) Future value = $2,000 / (1 + 0.03). D) Future value = $2,000 × (1 + 0.03).
The "Four Tigers" of East Asia are the newly industrialized countries of Taiwan, South Korea, Hong Kong, and:
a. Japan. b. Singapore. c. the Philippines. d. Vietnam.
Across the globe, exchange rate regimes are:
a. mostly fixed. b. a mix of fixed and floating. c. mostly floating. d. hard to pinpoint.