The Fourteenth Amendment was applied to the railroads in the Santa Clara County v Southern Pacific Railroad (1886) decision even though the original intent of that amendment had been to protect the property of former slaves
Indicate whether the statement is true or false
True
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Why would an economist claim that "oil comes out of our minds"?
A) She wants to sound silly. B) She wants to tell lies. C) She wants to remind us that the recognition of useful resources is a product of our mental abilities. D) She wants to sound like a really big and important theorist and could not care less about the facts of the real world.
The above figure shows the cost curves for a typical firm in a competitive market. If p = 10, then
A) the firm will maximize its profit by producing 5 units. B) the firm will maximize its profit by producing 60 units. C) producing 5 or 60 units will yield equal profits. D) Not enough information.
In contrast to government research and development, private sector R&D has: a. more impact on productivity since most government R&D focuses narrowly on military applications
b. more impact on productivity since most government R&D focuses narrowly on the service sector. c. more impact on productivity since most government R&D focuses narrowly on not-for-profit activities. d. less impact on productivity since the government is more motivated and able to hire better people and facilities. e. less impact on productivity since firms tend to hold back on research when results are easily copied.
Which statement is false?
A. Induced consumption is never negative. B. Autonomous consumption is constant. C. When C is positive, saving is negative. D. When consumption is smaller than disposable income, saving is positive.