Which of the following best describes white servitude?
(a) It applied to hired labor.
(b) It was more costly than slavery.
(c) It bound vagrants and orphans into productive employment.
(d) It was pervasive on tobacco, indigo and cotton plantations.
(d)
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In the above figure, the profit-maximizing rate of production for the perfectly competitive firm is
A) 5. B) 10. C) 13. D) none of the above.
Which of the following would most likely be a natural monopoly?
a. Gas utility company b. Agricultural firm c. Youth apparel company d. Automotive manufacturer
Given the consumption equation C = $500 billion + 0.80Y, an increase in national income from $6,000 billion to $7,000 billion will cause consumption to increase by
a. $800 billion b. $1,000 billion c. $1,300 billion d. $1,500 billion e. $1,800 billion
The United States is known worldwide as being a low tariff nation
a. True b. False Indicate whether the statement is true or false