The Royal Proclamation of 1763 and the Quebec Act of 1774 had all of the following effects except:
a. increased the price of farm labor
b. increased the price of farm land
c. decreased competition for existing farmers
d. encouraged Scotch, Irish and German immigrants to rebel against England
a. increased the price of farm labor
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If the federal funds rate falls below the Fed's target range, the Fed could take:
A. an offensive action and sell government bonds. B. an offensive action and buy government bonds. C. a defensive action and sell government bonds. D. a defensive action and buy government bonds.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. For this economy to move from Point C to Point B, ________ additional LCD TVs could be produced when the production of OLED TVs is reduced by 20.
A. exactly 30 B. exactly 60 C. fewer than 30 D. more than 30
Which of the following statements is true of the economy in the long run?
1. real GDP eventually moves to potential because all wages and prices are assumed to be flexible. 2. the economy can achieve its natural level of employment and potential output at any price level. 3. there is no cyclical unemployment. A. I only B. I and II only C. I and III only D. I, II, and III
The supply schedule assumes that factors other than:
A. supply must change. B. supply remain the same. C. price remain the same. D. price must change.