With regard to the American Revolution, research suggests that
(a) it was not waged against the law but against a particular alien authority.
(b) all contracts, respecting property, remained basically unchanged.
(c) the basic ideas established in the colonial era remained untouched by the Revolution, apart from the abolition of primogeniture and perpetual entailment.
(d) all of the above are true.
(d)
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A one-year Treasury bill that sells for $943.40 and has a face value of $1,000 has an annual yield of
A) 8 percent. B) 7 percent. C) 6 percent. D) 5 percent.
The most important reason for the increasing prominence of the corporation was:
a. protection from creditors. b. that some businesses required more capital than one person or a few people could provide. c. the use of "double liability." d. None of the above
In a world of perfect knowledge and communication, competitive markets, and no uncertainty,
a. there would be neither economic profits nor economic losses. b. economic profits would exist, but losses would be eliminated. c. economic profits and losses would exist to a greater degree than presently is the case. d. there would be economic profits; there is not enough information to comment on economic losses.
Since its beginning, the cable television industry has been viewed as a natural monopoly. Typically, cities would grant individual firms local monopolies and then regulate them. Is this a valid approach from an economic perspective? What do you expect the future of the television-viewing market to hold?