Recall the Application about cultural factors in England and their relevance to the Industrial Revolution to answer the following question(s). The Application cites a study by Galor and Moav (2002) that found that families with fewer children gained a comparative advantage in the evolutionary cycle because:
A. they invested more human capital on their offspring than the families with more children.
B. having more children led to more chaos.
C. having more children meant more workers in the farms.
D. they lived in cities while families with more children lived in the countryside.
Answer: A
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Which one of the following statements concerning the Second Bank of the United States is not true?
a. It was created five years after the demise of the First Bank of the United States. b. It had the right to issue its own notes. c. It pressed for sounder specie backing of bank notes. d. Its notes became the most widely accepted currency in the nation. e. It faced strong regional resistance in the North.
Suppose Congress increases income taxes. This is an example of
A) expansionary fiscal policy. B) expansionary monetary policy. C) contractionary fiscal policy. D) contractionary monetary policy.
Diminishing returns set in with the _____ worker.
How much is the APS?
C = $6.4 trillion Disposable income = $8 trillion Autonomous consumption = $4 trillion