The growth of total railroad mileage
(a) was far greater after the Civil War than before.
(b) was maximized in miles built per decade before 1860.
(c) was a free-market phenomenon, not subject to government subsidies.
(d) was not subject to business cycle fluctuations.
(a)
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Group decision making by majority rule is more sound than decision making by an individual
Indicate whether the statement is true or false
Medicare subsidies will cause people to
A) perceive the price they pay per unit of medical services to be lower than the price received by the provider. B) perceive the price they pay per unit of medical services to be higher than the price received by the provider. C) perceive the price they pay per unit of medical services to be exactly equal to the price received by the provider. D) demand fewer services.
To an economist, the four factors of production are
A. Land, labor, capital, and entrepreneurship. B. Labor, workers, profit, and services. C. Entrepreneurship, machinery, workers, and profit. D. None of the choices are correct.
Dominant firms which assigned control to a single decision group, that formed in several industries in the U.S. in the 1870s and 1880s, were referred to as:
A. Trusts B. Mergers C. Tying contracts D. Single-seller monopoly