Which researcher argues that the slave system and its enforcement mechanisms prevented slave individualism from emerging within the system itself?
(a) Robert Fogel
(b) Stanley Engerman
(c) Stanley Elkins
(d) Kenneth Stampp
(c)
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Suppose the market for cement is one where there are a large number of buyers and sellers, and everyone conducts transactions at a common market price. Which of the following statements is true about the structure of the cement market?
A) The cement market is free and competitive. B) The cement market is government regulated. C) All participants in the cement market set their own prices. D) All transactions in the cement market are likely to be involuntary.
Economic rent is that portion of a resource's total earnings that exceeds its opportunity cost
a. True b. False
If two countries produce both wheat and sugar and one country has the comparative advantage in producing wheat than the other country must have the absolute advantage producing sugar
a. True b. False Indicate whether the statement is true or false
Starting from long-run equilibrium, a large increase in government purchases will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. expansionary; higher; potential B. recessionary; higher; potential C. recessionary; lower; lower D. expansionary; higher; higher