The Desert Land Act (1877) and the Cary Act (1894) liberalized the terms for preemption that had been set originally in the 1862 Homestead Act
Indicate whether the statement is true or false
True
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The Seattle Mariners baseball team has a monopoly on major league baseball in the Northwest. If the Mariners could be purchased by anyone with enough money, we could argue that this purchase is fair according to the
A) fair rules test. B) fair results test. C) fair price test. D) fair output test. E) allocative fairness test.
Targeting money growth will lead to stable output growth only if
a. money demand and velocity change proportionally with output. b. fiscal policy remains unchanged. c. money demand and velocity are stable. d. the IS curve is steep.
If the Federal Reserve increases the legal reserve requirement on deposits,
a. the money stock will rise and the money multiplier will fall. b. the monetary base will rise and the money multiplier will fall. c. both the monetary base and the money stock will fall. d. neither the monetary base nor the money stock will rise.
For a typical natural monopoly, average total cost is
a. rising, often because marginal costs are very large. b. rising, often because fixed costs are very large. c. declining, often because marginal costs are very large. d. declining, often because fixed costs are very large.