Major westward moves in sports franchises began in the major sports in
A. 1969 with the Seattle Pilots as an expansion team.
B. 1972 with the Washington Senators becoming the Texas Rangers.
C. the 1950s with two New York teams (the Dodgers and the Giants) moving to California.
D. 1922 with the Boston Braves moving to Atlanta.
Answer: C
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A competitive market is one:
A) that operates with little or no government control. B) where almost all exchanges take place involuntarily. C) that has price controls imposed by a ruling authority. D) where determination of equilibrium quantity need not rely on the forces of demand and supply.
Banks can make additional loans when required reserves are
A) less than total deposits. B) greater than total reserves. C) less than total reserves. D) less than total loans.
As efficiency wage is higher than the market wage, it must reduce the disutility of effort for a worker
Indicate whether the statement is true or false
In the market for a given product, when a price floor is set above the equilibrium price the result will be
A) more exchanges made in the market. B) an increase in the supply of the product. C) a decrease in the demand for the product. D) a deadweight loss.