In the years before the Civil War, Southern states, because of high protective tariffs, were forced to buy most of their manufactured goods from _________.
Fill in the blank(s) with the appropriate word(s).
The North
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Which statement is true?
A. Productive efficiency has never been achieved. B. The U.S. economy achieved productive efficiency from mid-1997 through mid-2001. C. The U.S. economy achieved productive efficiency from 1980 to 1997. D. The U.S. economy generally attains productive efficiency.
The dollar is regarded as the "safe haven" currency; investors flock to it when they are worried about the outlook for the global economy
Fears were at their greatest in late 2008 and early 2009 after the collapse of the Lehman Brothers investment bank in September 2008. As investors flocked to the dollar A) the demand for dollars increased and the exchange rate increased. B) the demand for dollars decreased and the exchange rate decreased. C) the supply of dollars increased and the exchange rate decreased. D) the supply of dollars decreased and the exchange rate increased.
In the figure above, which budget line has the lowest relative price of carrots?
A) AD B) BD C) CD D) The relative price is equal for all three budget lines.
A hyperinflation occurs when
A) inflation persists for more than two years. B) inflation persists for more than five years. C) the inflation rate exceeds 50% per year. D) the inflation rate exceeds 50% per month