The first major step toward natural resource reform was
a. the General Revision Act of 1891.
b. the Commons Preservation Act of 1896.
c. the Reclamation Act of 1902.
d. the Snowden-Higgs Act of 1904.
a. the General Revision Act of 1891.
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Prices serve as a key means of communication between buyers and sellers
Indicate whether the statement is true or false
Refer to Figure 13-2. Ceteris paribus, an increase in the labor force would be represented by a movement from
A) SRAS1 to SRAS2. B) SRAS2 to SRAS1. C) point A to point B. D) point B to point A.
Imagine that Odyssey National is a brand new bank, and that its required reserve ratio is 10 percent. If it accepts a $1,000 cash deposit, then, excluding the $1,000 initial deposit, the banking system can increase the money supply by:
a. $900. b. $910. c. $1,000. d. $9,000. e. $10,000.
Suppose Freeland produces few consumption goods and many investment goods while Liberty Nation produces few investment goods and many consumption goods. Other things equal, you would expect a. per capita income to grow more rapidly in Liberty Nation
b. population to grow faster in Liberty Nation. c. the production possibilities curve for Freeland will shift out more rapidly than that of Liberty Nation. d. that if both countries started with identical production possibilities curves, in twenty years, people in Liberty Nation will be able to produce more consumer goods than people in Freeland.