On the eve of the Civil War, cotton was the major crop in the Old South
Indicate whether the statement is true or false
False
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Goods and services that are consumed by the ultimate user are called ________ goods and services.
A. nominal B. final C. value added D. intermediate
A monopolist maximizes profit at the quantity where its total revenue curve equals total cost
a. True b. False
On a secondary stock market, such as the New York Stock Exchange,
a. firms sell new issues of stock b. firms make initial public offerings c. previously issued bonds are sold and resold d. previously issued shares of corporations are sold and resold e. firms sell newly issued bonds
Pick the economic variable that is countercyclical
a. Wages b. Investment c. Government transfer payments d. Nominal interest rates e. All of the above are countercyclical variables