Which of the following factors caused the Civil War?
(a) Slavery
(b) The conflict between the two systems of agriculture
(c) A shift in political power resulting from new states entering the
Union as free or slave states
(d) All of the above
(d)
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Why are estimated models of demand and consumer behavior useful to managers?
What will be an ideal response?
The full-employment rate of output can
A) be surpassed in the long run only if input prices are flexible. B) not be surpassed in either the short run or the long run. C) be surpassed only when firms are not yet producing at full capacity. D) be surpassed only in the short run.
Nearly half of federal government research and development spending takes place in the
a. National Science Foundation.
b. National Aeronautics and Space Administration (NASA).
c. Department of Defense.
d. Federal Office of Technology Policy.
Bilateral monopoly exists when
A) there is either a monopoly or a monopsony in the market. B) there are two competing labor unions in a labor market. C) there is a monopoly and a monopsony in a market. D) a firm is both a monopolist in its output market and a monopsonist in the input market.