Institutional reversal refers to the fact that:
A) the same institutions that were highly inclusive in the year 1500 slowly changed into extractive institutions as a result of modernization.
B) Europeans established more extractive institutions in places that were previously more developed, and set up more inclusive institutions that were previously less developed.
C) Europeans established more extractive institutions in places that were previously less developed, and set up more inclusive institutions that were previously more developed.
D) the same institutions that were highly extractive in the year 1500 slowly changed into inclusive institutions as a result of modernization.
B
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Both the long-run and short-run aggregate supply curves will shift when
A) the endowments of the factors of production change. B) the government increases defense spending. C) an event occurs which is expected to last only a short period of time. D) they are both upward sloping.
What are the steps involved in using options for a short sale of a stock?
What will be an ideal response?
A monopolistic competitor is similar to a monopolist in that
A. both produce the output at which long-run average cost is at a minimum. B. both have market power. C. both earn positive economic profit in the long run. D. a and b E. all of the above
Suppose Tim has $1,000 in cash on hand to buy collectable baseball cards at a swap meet. Tim often sells these cards at a profit. This is an example of the
A. asset demand for money. B. precautionary demand for money. C. wealth demand for money. D. transaction demand for money