Squatters were considered pioneers or land entrepreneurs by many of the people in
(a) England and the New England colonies.
(b) the New England colonies and Middle Colonies.
(c) the Middle Colonies and Southern Colonies.
(d) all of the above.
(c)
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If the elasticity of supply for a good is greater than the government expected: a. Consumers will bear more of the burden of the tax than the government expected. b. Producers will bear more of the burden of the tax than the government expected. c. The tax will raise less revenue than the government expected
d. Both a. and c. are true.
Which of the following values would be included in U.S. GDP for 2015?
a. the rent that Sam, an American citizen, would have paid on his home in Houston in 2015 had he not owned that home. b. the rent that Jim, an American citizen, paid on his apartment in San Francisco in 2015. c. the value of the legal services provided by Juan, an attorney and a Mexican citizen, who lived in San Antonio and practiced law there in 2015 d. All of the above would be included in U.S. GDP for 2015.
If ________, then a profit-maximizing, monopolistically competitive firm earns positive economic profits.
A. P = ATC B. P < ATC C. P > ATC D. All of the above are possible.
Refer to the given data. Suppose the Fed wants to increase the money supply by $400 billion to drive down interest rates and stimulate the economy. Assuming that the money multiplier is operating to full effect, to accomplish the desired increase, the Fed could:
Answer the question on the basis of the following consolidated balance sheet of the
commercial banking system. Assume that the reserve requirement is 10 percent. All figures
are in billions and each question should be answered independently of changes specified in
any preceding ones.
A. sell $20 billion of U.S. securities to the banks.
B. buy $20 billion of U.S. securities from the banks.
C. sell $40 billion of U.S. securities to the banks.
D. buy $40 billion of U.S. securities from the banks.