The data show that the American national income grew fast enough—even when immigration rates are taken into account—to produce rising income per capita between 1860 and 1910
Indicate whether the statement is true or false
True
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Because of asymmetric information, most used cars that are offered for sale will be sold for prices that are greater than their true value. Because of this fact, the used car market falls victim to
A) the free-rider problem. B) adverse selection. C) deadweight loss and economic inefficiency. D) a surplus of used cars.
Globalization can be defined as:
a. the attitude or policy of placing the interests of the entire world above those of individual nations. b. viewing the entire world as a proper sphere for one nation to project political influence. c. a period in history that has witnessed a dramatic change in world political thought and the balance of power. d. an increased cross-border flow of trade in goods, services, and financial assets, along with an increased international mobility of technology, information, and individuals. e. a social movement that supports global cooperation and interaction, but which opposes the negative effects of economic development across nations.
In order to fit linear supply and demand curves to data, we need to find the parameters, a, b, c, and d, of the corresponding functions.
A.One procedure for finding those values uses the known values of: the price elasticity of demand and supply and the income elasticity of demand. B. the price and quantity of equilibrium and the elasticities of supply and demand. C. any two known values of price and quantity and income elasticity of demand. D. the demand equation and income elasticity of demand.
The initial impact of ________ the money supply ________ the balance of payments.
A. contracting; has no effect on B. expanding; improves C. contracting; worsens D. expanding; worsens