According to the 1790 census, the majority of whites had links to
(a) the British Isles, thus explaining why British institutions were selected to guide development and growth in the colonies.
(b) Germany, thus explaining why German institutions were selected to guide development and growth in the colonies.
(c) Spain, thus explaining why Spanish institutions were selected to guide development and growth in the colonies.
(d) Madagascar and Zanzibar, thus explaining why institutions from Madagascar and Zanzibar were selected to guide development and growth in the colonies.
(a)
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The matching function exhibits all of the following properties except
A) diminishing marginal product of labor. B) constant returns to scale. C) increasing in matching efficiency. D) increasing in inputs of searching consumers and firms.
Governments can eliminate market failure due to an imperfectly competitive market by
A) changing the market structure, for example by eliminating monopoly protection. B) having the government own the monopoly. C) imposing regulations that reduce prices. D) All of the above.
If one U.S. dollar can be exchanged for 5 Swiss francs, then 1 franc can be exchanged for:
a. 5 cents. b. 20 cents. c. 50 cents. d. 2 dollars.
Refer to Figure 1.7. If this economy is currently producing at point F, then by employing more resources this economy
A. Can move to points D, G, or J. B. Can move to point D, but not points G or J. C. Can move to point G, but not points D or J. D. Will remain at point F.