Under the Dawes Act of 1887,
a. nearly 100 million acres of Indian territories were opened for public purchase.
b. "squatters" rights were legally recognized.
c. substantial tracts of land were granted to western railroads.
d. 160 acres was granted to anyone who agreed to plant trees on at least 40 acres.
a. nearly 100 million acres of Indian territories were opened for public purchase.
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Jackie notices everyone wearing Converse sneakers on the first day of school. Ever the fashionista, this will likely affect:
A. Jackie's income, as she now needs to buy Converse and will have less to spend on other goods. B. Jackie's preferences for shoes, since she feels as though she needs them now. C. Jackie's expectations of future prices, since the price of Converse will likely go up because they're getting so popular. D. the prices of related goods, since other shoes will be less popular and cost less now.
Excess capacity arises when firms cannot sell all of their output at the current market price
a. True b. False
The optimal amount of information to acquire before making a purchase is:
A. zero. B. as much as possible. C. the amount such that the marginal cost of acquiring information equals the marginal benefit. D. the amount such that the total cost of acquiring information equals the total benefit.
If a country tries to maintain a fixed exchange rate, it must be
A. willing to print and sell its own currency to weaken it, if needed. B. a communist nation to accomplish it. C. willing to sell gold and hard currency to weaken its currency, if needed. D. willing to print and sell its own currency to strengthen it, if needed.