With regard to the Constitution and its interpretation,
(a) the powers reserved for the states included the police powers—local rules, laws and ordinances, including licensing, inspection and the regulation of local business activities.
(b) the "common law of England" was in effect, claimed as the right of all Americans and still enforced by England.
(c) England was consulted in cases of ambiguity over interpretation of the common law policy.
(d) none of the above are true.
(a)
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The Keynesian model is based on the idea that
A) both consumption and saving are directly related to disposable income. B) saving depends only on the interest rate. C) consumption is unrelated to the level of real Gross Domestic Product (GDP). D) both consumption and saving are unrelated to the level of real Gross Domestic Product (GDP).
If a customer values good A at $15, and it costs the firm $10 to produce, the firm can increase its profits if
a. Redesign the product such that it delivers $16 in customer value b. Redesign the production process so that the costs fall to $9 c. One or both of the above d. None of the above
Globalization that allows governments to pursue expansionary policies can be dangerous because it can lead to:
A. asset price inflation. B. goods price deflation. C. a reduction in the debt ceiling. D. goods price inflation.
Estimates of the income elasticity of demand for health care indicate that it is about 1. These estimates suggest that spending on health care will probably:
A. increase faster than income. B. increase proportionately with income. C. increase less than income. D. not increase or decrease.