Contrary to Fogel and Engerman's (1974) claim, most surveyed economists believed that slavery was on the verge of extinction on the eve of the Civil War
Indicate whether the statement is true or false
True
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Consider the following factors:
a. culture b. religion c. customs d. prices e. income Which of the factors above are likely to influence the choices consumers make? A) a, d, and e only B) d and e only C) all the factors except c D) all the factors except b E) all the factors listed
Refer to Scenario 16.3. What is Sam's marginal rate of substitution of tee shirts for candy at the current distribution?
A) 2. B) 7/5. C) 5/7. D) It is impossible to determine without the prices of each commodity.
"Ceteris paribus" means:
a. if events A and B occur together, one must cause the other b. all relevant details are included c. what is true for the individual must be true for the whole. d. holding other things constant.
If Alicia limits the range of her productive activities rather than trying to be self-sufficient, she is engaging in
a. specialization b. exchange c. absolute advantage d. increasing opportunity costs e. reducing her standard of living