What did the Federalists believe about banking?
(A) They believed that state governments should own and run the nation's banks.
(B) They believed that the banking system already in existence was sufficient.
(C) They believed that a centralized banking system was necessary.
(D) They believed an international banking system would be best.
Ans: (C) They believed that a centralized banking system was necessary.
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What will be an ideal response?
The following input-requirements data are for Country A, a capital-abundant country that produces nothing but bread and wine using only capital and labor as inputs. 1 Pound of Bread1 Gallon of WineCapital Input5 units20 unitsLabor Input4 units10 units In the long run, which of the following can most reasonably be inferred after this country engages in free trade?
A. The wage rates will decline but the returns to capital will increase. B. The returns to capital will rise in the wine industry and will fall in the bread industry. C. The returns to capital will decline but the wage rates will increase. D. The wage rates will increase in the wine industry and will decline in the bread industry.
In economics, a public good
A. Is provided in an optimal amount by the market. B. Is any good produced by the government. C. Cannot be denied to consumers who have not paid. D. Has social costs of production lower than private costs of production.
If you can buy 9 DVDs for $126 or you could buy 10 DVDs for $130, then the marginal cost of the tenth DVD is
A. $4. B. $13. C. $14. D. $130.