In the late 1800s and early 1900s, the primary source of energy for manufacturing was
a. coal.
b. petroleum.
c. water.
d. electricity.
a. coal.
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A payment that is made by the government for which no goods or services are given in return is known as
A) a public good. B) a transfer payment. C) a negative externality. D) a free rider.
An increase in the price of a good could be caused by a. An increase in supply
b. An increase in demand. c. A decrease in supply and an increase in demand. d. Either b. or c.
Monopsonists hire the amount of labor that will equate the marginal factor cost with the derived demand curve for labor.
Answer the following statement true (T) or false (F)
To decrease the money supply, the Federal Reserve could
A) lower the discount rate. B) raise income taxes. C) lower the required reserve ratio. D) conduct an open market sale of Treasury securities. E) raise transfer payments.