England's American colonies were ultimately more successful than the colonies of other European powers. The reasons for this success include:
a. the realization that successful colonies would provide markets for English goods.
b. a focus on establishing permanent settlements.
c. the access to land which could be privately owned.
d. all of the above.
d. all of the above.
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The quantity of money is $1 billion, the price level is 1.10, and real GDP is $10 billion. What is the velocity of money?
What will be an ideal response?
Foreign direct investment declined worldwide during the recession of 2007-2009
The decline in foreign direct investment in developing countries can make it more difficult for these countries to break out of the vicious cycle of low economic growth and A) overpopulation. B) low saving and investment. C) low government spending. D) a low import/export ratio.
Purchases of which of the following goods would be dramatically reduced during a recession?
A) ink pens B) refrigerators C) gasoline D) tomatoes
The Law of One Price holds true because
a. All farmers agree on a single price to sell their product b. Government price supports level the playing field c. Profit seeking individuals try to buy low and sell high d. Food is generally price inelastic