According to quantitative estimates of the burden of the Navigation Acts on the colonies, what can be said about the (net) effect of the Acts?
a. The Navigation Acts placed a serious economic burden on the colonies, with estimates of this burden equaling roughly 40 percent of 1770s GNP.
b. The Navigation Acts were the critical reason why colonists revolted against the British.
c. After accounting for the protection provided by the British, there was very little economic burden to colonists from the Navigation Acts.
d. Existing data do not allow for credible estimates of the economic burden of the Navigation Acts on the colonies.
c. After accounting for the protection provided by the British, there was very little economic burden to colonists from the Navigation Acts.
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If the bank returns $1,060 on the $1,000 deposited for a year during which inflation was 4 percent, the real interest rate is
A) 2 percent. B) 6 percent. C) -2 percent. D) 16 percent. E) 10 percent.
The elasticity of demand is constant along a downward sloping straight-line demand curve
Indicate whether the statement is true or false
Refer to Figure 2-6. If the economy is currently producing at point E, what is the opportunity cost of moving to point D?
A) 10 thousand hammers B) 8 thousand wrenches C) 13 thousand hammers D) 0 wrenches
The Japanese banking system went through a cycle of ________ in the 1990s similar to the one that occurred in the U.S. in the 1980s
A) regulatory forbearance B) policy antagonism C) regulatory ignorance D) policy renewal