Government participation in railroad construction was highest in
(a) New England.
(b) the South.
(c) the Midwest.
(d) the Great Lakes Region.
(b)
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Opportunity Cost:
A. only includes explicit, out of pocket expenses. B. is the value of your next best alternative. C. is never provided in dollar values. D. would not include lost wages from working when deciding to take a vacation.
A price ceiling set below the equilibrium price will
A) clear the market for the good. B) result in a shortage of the good. C) result in a surplus of the good. D) induce new firms to enter the industry.
Applying for a loan in five-person groups is an example of:
A. trade-off. B. group responsibility. C. party of five lending. D. family and friends lending.
If a one-year zero-coupon bond has a face value of $100, is purchased for $94, and is held to maturity the:
A. holding period return will exceed the yield to maturity. B. yield to maturity will exceed the holding period return. C. holding period return is 6.0%. D. yield to maturity will be 6.38%.