In 1870, the wealthiest fifth of the Southern population:
a. owned about 25 percent of the land.
b. had lost most of their land through post-War land reforms.
c. owned about the same portion of the land as they had owned before the War.
d. generally chose to reduce their investments in land and increase their investments in other assets.
c. owned about the same portion of the land as they had owned before the War.
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The graph shown portrays a subsidy to buyers. The amount of money spent on this subsidy by the government is:
A. $3,600.
B. $2,400.
C. $6,000.
D. $800.
Best-response functions
a. can only be used to analyze games with continuous actions. b. are always downward sloping. c. always intersect at Nash equilibria. d. never intersect.
Discuss how size of government can negatively affect economic growth
For a firm in a perfectly competitive industry, the demand curve for its own product is
A) downward sloping. B) vertical. C) always above the marginal revenue curve. D) the same as the marginal revenue curve.