Prior to the Civil War (1861–1865) American capitalism was free from government influence and controls. The government only served as the protector of private property rights and the provider of national defense
Indicate whether the statement is true or false
False
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Assume point A on a linear production possibilities curve represents the combination of 12 coffees and 3 cappuccinos, and point B represents 3 coffees and 6 cappuccinos. Suppose coffees are on the vertical axis and cappuccinos are on the horizontal axis. The absolute value of the slope of the production possibilities curve between points A and B equals:
A. 4. B. 6. C. 3. D. 1/3.
A tax imposed on imported goods is a:
A. Tariff. B. Nontariff barrier. C. Quota. D. Supply restriction.
Refer to the graph shown. A movement from D to B is most likely to be caused by:
A. a decrease in input prices. B. a decrease in import prices. C. a decrease in aggregate demand. D. an increase in expected inflation.
Economic stagnation coupled with high inflation is commonly called:
A. stagflation. B. inflationary stagnation. C. stagnatory growth. D. inflagnation.