In the late 19th century, increases in productivity in the _________ industry were driven mostly by innovation, while increases in productivity in the ________ industry were driven by both invention and innovation
a. men's clothing; grain milling
b. boot and shoe; cotton textile
c. cotton textile; boot and shoe
d. boot and shoe; men's clothing
c. cotton textile; boot and shoe
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Explain why producers rather than consumers may be the beneficiaries of regulation. Does the evidence support this view?
A bank may make loans until its
A) total liabilities are exhausted.
B) excess reserves are exhausted.
C) total assets are exhausted.
D) required reserves are exhausted.
If a nation's government determines that consumption of cigarettes should be discouraged, then this means that the government has judged cigarettes to be a(n)
A. government-sponsored good. B. exclusive good. C. public good. D. government-inhibited good.
If the unit price of a product is P, then the amount of spending that the buyers would need to pay for a given quantity Q is equal to:
A. P x Q B. P + Q C. P - Q D. Q - P