The rise of the modern factory system in England during the late eighteenth and early nineteenth centuries is known as the
A. Wealth of Nations.
B. Industrial Revolution.
C. Dark Ages.
D. Great Migration.
Answer: B
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? In Figure 5-13, the consumer can afford any combination of X and Y represented by a point
A. on line AB only. B. on or below line AB. C. on or above line AB. D. anywhere on the graph.
Fluctuations in the relative demand for checking deposits versus money-market mutual funds causes instability in the overall demand for
A) M1 but not M2. B) M2 but not M1. C) M2 and M1. D) neither M1 nor M2.
Refer to the above figure. A price ceiling has been set at P1, and a black market has opened. The equilibrium black market price will be
A) below P1. B) between P1 and P3. C) above P3. D) P2.
The fate of the Second Bank of the United States? It
a. was lauded by Andrew Jackson and eventually became the Federal Reserve b. was viewed as a great success by many southern and western banks c. prospered because it took a positive view towards many speculative land ventures d. disappeared because it could not issue its own notes e. became just another bank in Pennsylvania by 1836