Which of the following regions obtained most of its imported goods from the United Kingdom?
a. the New England colonies
b. the Middle colonies
c. the upper Southern colonies
d. the lower Southern colonies
e. All of the above.
e. All of the above.
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Taxes provide individuals with incentive to:
(a) Increase the number of working hours. (b) Increase productivity by working longer and harder. (c) Direct resources to uses where taxes are relatively low or nonexistent. (d) Buy and save more.
Which of the following total cost functions suggests the presence of a natural monopoly?
A) TC = 2Q B) TC = 100 + 2Q C) TC = 100 + 2Q2 D) All of the above.
The speculative demand for money shows the relationship between money demand and:
a. income levels. b. interest rates. c. prices d. investment. e. consumption.
Refer to the information provided in Figure 2.6 below to answer the question(s) that follow.
Figure 2.6Refer to Figure 2.6. Which of the following will shift an economy's production possibility frontier from ppf2 to ppf1?
A. a decrease in the economy's capital stock B. a change in consumer's tastes C. an increase in production efficiency D. economic growth