The region that was using mechanized harvesting equipment before the Civil War was
(a) the Northeast.
(b) the South.
(c) the West.
(d) the Far West.
(b)
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As of mid-2009, the unemployment rate for blacks is approximately 1.7 times the rate for
a. Hispanics b. white teenagers c. women d. black teenagers e. whites
Limit pricing is:
A. the act of charging a low price initially upon entering a market to gain market share. B. a strategy whereby an incumbent maintains a price below the monopoly price in order to prevent entry. C. a strategy used by a vertically integrated firm to raise rivals' costs of inputs, while holding constant final product prices. D. a strategy whereby a firm temporarily prices below its marginal costs to drive competitors out of the market.
According to the text, the highest 20 percent of U.S. income households earn about what percentage of total income today?
A) 10 percent B) 20 percent C) 50 percent D) 95 percent
Market failure results in
A. inflation. B. Pareto optimality. C. budget deficits. D. waste.