Samuel Slater is most recognized for:
a. inventing the cotton gin.
b. inventing the telegraph.
c. lobbying the government for the abolition of slavery.
d. playing an integral role in developing the first American factory.
d. playing an integral role in developing the first American factory.
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As an exchange rate regime, target zones would be classified as
A) splitting the difference between fixed and flexible. B) a flexible exchange rate policy. C) a fixed exchange rate policy. D) a currency basket.
The market demand function for wheat is Qd = 10 - 2P and the market supply function is Qs = 4P - 2, both measured in billions of bushels per year. Suppose the government wants to increase the price of wheat to $3/bushel and they impose a voluntary production reduction program to achieve their goal. What is the size of the deadweight loss from the program?
A. $1.5 billion B. $3 billion C. $4.5 billion D. $18 billion
Government outlays equal: a. the difference between government expenditures and government revenues. b. the sum of government expenditures and government revenues. c. the sum of government purchases and transfer payments. d. the difference between government purchases and transfer payments
e. the ratio of government purchases to transfer payments.
The self-correcting tendency of the economy means that rising inflation eventually eliminates:
A. unemployment. B. exogenous spending. C. recessionary gaps. D. expansionary gaps.