By almost every measure of social and economic well-being, for how long after the Civil War (1861–1865) did the South lag behind the rest of the country?
(a) For almost a century
(b) For almost a decade before it adapted to life without slavery
(c) For only two decades
(d) Right down to the present day
(a)
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When economic profits are zero, accounting profits
A) must be positive. B) will be negative. C) will equal zero. D) could be positive, negative or zero.
A firm's labor demand curve is derived from the supply of the goods and services it produces
a. True b. False
The distinction between M1 and M2 is based on
a. portability-the ease with which an asset can be moved. b. divisibility-the ease with which an asset can be used to make smaller payments. c. liquidity-the ease with which an asset can be converted into cash. d. storability-how long an asset will retain its value.
One of the reasons that pollution problems are as large as they are is that
A. markets let individuals and firms deplete valuable resources without charging money for doing so. B. markets are incapable of incorporating valuable resources such as air and pure water. C. governments use resources without paying for them the way that individuals and firms must. D. markets are not an efficient means to address scarcity.