Which of the following was NOT a part of the American system of manufacturing?
(a) Interchangeable and standardized parts
(b) Use of indentured servants
(c) Mass production
(d) High capital intensities of production
(b)
You might also like to view...
When price is greater than both marginal cost and average variable cost, the perfectly competitive firm
A) is maximizing economic profit. B) should increase its level of output. C) should reduce its level of output. D) should stop production.
______________ elect the firm's board of directors, and ______________ appoint the firm's management
a. Sole proprietors; partners b. Partners; sole proprietors c. Employees; employers d. Management; the board of directors e. Stockholders; the board of directors
A report on the dangers of cholesterol would likely shift the demand curve for beef downward and to the left
a. True b. False Indicate whether the statement is true or false
The foreign trade effect states that, ceteris paribus:
A. The quantity demanded of domestic goods falls when the domestic price level falls. B. The quantity demanded of imported goods falls when the price of imported goods falls. C. Foreign consumers have more incentive to buy American-made products when U.S. prices rise. D. The quantity demanded of domestic goods rises when the domestic price level falls.