Which of the following statements contains accurate information regarding power sources for manufacturing in the first half of the 19th century?
a. Steam engines were very costly to operate.
b. The water turbine was more efficient than the water wheel.
c. Coal was adopted more slowly in the U.S. than in England.
d. Along the Ohio River, steam was preferable to water power because of variable stream levels.
e. All of above.
e. All of above.
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The optimum tariff is
A) the best tariff a country can obtain via a WTO negotiated round of compromises. B) the tariff, which maximizes the terms of trade gains. C) the tariff, which maximizes the difference between terms of trade gains and terms of trade loses. D) not practical for a small country due to the likelihood of retaliation. E) not practical for a large country due to the likelihood of retaliation.
One way the government can boost the economy out of a recession is:
A. with public announcements telling the public to save their money. B. by increasing government spending. C. by setting price ceilings on most goods so people can afford them. D. None of these will help an economy in recession.
Ceteris paribus, if the corn crop is 15 percent larger this year than it was last year, farmers will have to ________ the price of corn by ________ to sell the new crop.
A. reduce; exactly 15 percent B. raise; more than 15 percent C. reduce; more than 15 percent D. reduce; less than 15 percent
In Figure 2.1, a "P*" for equilibrium price would go in
A. Box 1. B. Box 2. C. Box 3. D. Box 4.