Economic analysis indicates that
What will be an ideal response?
no matter what our objectives in life, they are easier to achieve if we have more wealth.
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Western expansion put whites on a collision course with the indigenous people of North America. The major policy of the U.S. government was to
(a) basically ignore them as a separate group and allow them to be naturally assimilated into American life over time. (b) confine them to reservations where they could practice their tribal customs, they could be completely separate from white society with no interference in their affairs, and they could continue to develop and grow their customs and norms based on traditional ways. (c) enslave them as a source of labor for the plantation system. (d) "civilize" them by replacing tribal social structures and values with those more appropriate to white society, such as individual ownership of property, competitive striving for material gain, farming activities for Native American men and housekeeping for Native American women and the replacement of native languages with English among children.
The "efficiency wage" is the wage at which
A) employees have no incentive to shirk. B) employees have an incentive to do the optimal (positive) amount of shirking. C) the cost of looking for work is equal to the value of the leisure time for the unemployed individual. D) there is no unemployment. E) there is only frictional unemployment.
Bank A has checkable deposits of $10 million and total reserves of $1 million. The required reserve ratio is 9 percent. The bank has required reserves of
A) $910,000. B) $90,000. C) $900,000. D) $1,000,000. E) There is not enough information provided to answer this question.
When economists model a game with three players instead of two, what is different about the payoff matrix and the payoffs listed in each cell of the matrix?
What will be an ideal response?