What is not a benefit from the lower costs of transportation that were achieved through advances in railroads, canals and steamboats?
a. Free rider problems were reduced.
b. Farmers gained larger shares of the selling price of their crops.
c. Consumers paid decreasing shares of the purchase price for transportation and marketing costs
d. New unsettled areas were profitably cleared and added to the nation's economic activity.
a. Free rider problems were reduced.
Economics
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The long-run supply curve in a competitive market is more elastic than the short-run supply curve
a. True b. False Indicate whether the statement is true or false
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If the quantity of money supplied does not respond to changes in the interest rate, then the money supply curve is
A) vertical. B) horizontal. C) relatively flat but upward sloping. D) relatively steep but upward sloping.
Economics
At a level of real disposable income of 0, consumption is $1000. Then
A. saving equals $1000. B. saving equals -$1000. C. savings equal -$1000. D. saving equals 0.
Economics
Describe the three main categories of firms
What will be an ideal response?
Economics