What was the most influential factor in the United States' economic development during the 19th century?
A. the abundance of capital
B. the abundance of labor
C. mass production
D. the abundance of land
D. the abundance of land
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GDP counts:
A. only final goods and services, because otherwise certain things would be double-counted and the GDP would be overestimated. B. only intermediate goods and services, because those are easier to track. C. both intermediate and final goods and services because it is important to capture all values, regardless of which market they take place in. D. all values that are reported to the government.
If a firm is able to charge each customer the maximum amount that he or she is willing to pay for its good,
a. the firm is engaging in rent-seeking behavior b. profits for the firm will be lower than for a single-price monopolist c. the firm will be violating federal law d. this is perfect price discrimination e. barriers to entry into the market will fall
The larger the hub presence, the larger the hub ____________.
Fill in the blank(s) with the appropriate word(s).
Answer the following statements true (T) or false (F)
1) The existence of "beaten paths" tends to discourage immigration because of the perception that job prospects have been exhausted. 2) Other things equal, younger workers are more likely to migrate than older workers. 3) Welfare payments to immigrants have steadily increased since 1996. 4) Welfare reform in 1996 reversed the trend of growing welfare payments to immigrants.