In the United States, in the early 1800s,
A) Southern farmers favored high tariffs while Northern manufacturers opposed them.
B) all sectors opposed high tariffs.
C) all sectors favored high tariffs.
D) Southern farmers opposed high tariffs while Northern manufacturers favored them.
D
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An expansion ends when the economy
A) hits a trough and then enters a recession. B) hits a peak and then enters a recession. C) begins to grow following a peak. D) has grown for two quarters in a row.
On Naomi's pig farm, Naomi hires all the labor used, grows all the grain fed to the pigs, and owns the barn. The costs used to calculate the total cost curve include
a. only the cost of labor. b. only the cost of labor and the cost of grain, which is completely consumed in the period in which it is grown. c. only the variable cost of growing grain. d. the cost of labor, the cost of growing grain, and the opportunity cost of the barn.
spot exchange typically involve
What will be an ideal response?
In this graph, consumption is at the level of 2,500 when disposable income is
A. 0.
B. 1000.
C. 2000.
D. 3000.