According to the text, in the century prior to the Revolution, ____________ were a "strategic factor in the overall economic advance of the colonies."
a. advances in technology
b. advances in manufacturing
c. advances in farm equipment
d. advances in shipping
d. advances in shipping
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Which of the following is not a member of the Federal Open Market Committee (FOMC)?
A) The entire board of governors B) Five reserve bank presidents C) The chairman of the SEC D) All of the above are members of the FOMC.
The terms rational expectations and adaptive expectations are two different names for the same concept
Indicate whether the statement is true or false
Which of the following is an example of excess supply:
A. Price = $500, demand = 500, supply = 300 B. Price = $700, demand = 300, supply = 500 C. Price = $600, demand = 400, supply = 400 D. Price = $400, demand = 600, supply = 200
Answer the following questions true (T) or false (F)
1. If it costs Danitra $225 to create 4 necklaces and $275 to create 5 necklaces, then the marginal cost of producing the 5th necklace is $50. 2. Suppose the extra cost to a city of lowering the speed limits in all school zones by 10 mph is $10,000 per year. Then, the city should lower the school-zone speed limits by 10 mph if doing so results in an additional benefit of less than $10,000 per year. 3. All economic questions arise from the fact that resources are scarce.