Research in history and economic history shows that before 1880,
(a) there was some government intervention in the private sector of the American economy.
(b) there was substantial federal regulation of private business organization but little influence
in the economy otherwise.
(c) the regulation and participation that existed were usually of a background nature and were not concerned with the details of day-to-day private business.
(d) laissez faire was the rule so far as the federal government was concerned.
(a)
You might also like to view...
Amusement parks often offer discounts to locals with IDs. This is an example of
a. A direct discrimination scheme b. An indirect discrimination scheme c. Diminishing marginal returns d. Vertical integration
Which of the following statements best describes the 12 Federal Reserve Banks?
A. They are privately owned and privately controlled central banks whose basic goal is to provide an ample and orderly market for U.S. Treasury securities. B. They are privately owned and publicly controlled central banks whose basic goal is to control the money supply and interest rates in promoting the general economic welfare. C. They are privately owned and publicly controlled central banks whose basic goal is to earn profits for their owners. D. They are privately owned and publicly controlled central banks whose basic function is to minimize the risks in commercial banking in order to make it a reasonably profitable industry.
Figure 1A.2Refer to Figure 1A.2. If this consumer rents 60 DVDs, how many movie tickets will she purchase?
A. 0 B. 5 C. 10 D. 15
Suppose that the quantity of cars supplied exceeds the quantity of cars demanded. We would expect that:
A. the price of cars will increase. B. the price of cars will decrease. C. the supply will increase (supply will shift to the right) to meet the demand. D. the demand will decrease (demand will shift to the left) to meet the supply.