In 1862, the Homestead Act made land available to farmers at zero cost. Yet many farmers preferred to purchase land along the rail line from the railroad. The farmers
A. were duped by the railroads.
B. knew the soil was better near the railroads.
C. realized that crops would be less costly to grow and transport on land near the railroads.
D. were exploited by the railroads.
Answer: C
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The U.S. saving rate is
A) rapidly increasing. B) higher than that of most major countries. C) low. D) negative.
For computers and other business equipment, small changes in business earnings tend to generate relatively large short-run changes in the demand for this equipment
In the long run, the responsiveness of demand for business equipment with respect to income changes tends to be: A) even more responsive. B) less responsive. C) equally responsive. D) none of the above
A government annually collects $230 billion in tax revenue and allocates $70 billion to military spending. What percentage of this government's budget is spent on its military?
a. 27.50% b. 36.63% c. 30.43% d. 41.90%
During a recession, we generally see
real GDP rising and unemployment rising real GDP falling and unemployment rising real GDP rising and inflation rising real GDP rising and inflation staying stable