Population grew prodigiously during the colonial period. What was/were the most important factor(s) fueling this increase?
(a) Immigration
(b) Relatively low mortality and high birth rates
(c) Relatively high mortality combined with high birth rates
(d) Immigration and high birth rates
(b)
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John takes out a student loan at a bank but spends his money in Las Vegas to play at the casino. This situation is an example of
A) moral hazard. B) moral suasion. C) adverse selection. D) fraud.
Use the above figure. Suppose that a regulatory agency requires this natural monopolist to engage in marginal cost pricing. This would lead to
A) losses, which would drive the monopolist out of business in the long run. B) profits, which would encourage new producers to enter the industry in the long run. C) profits, but new firms cannot enter the industry in the long run due to high barriers to entry. D) losses, which would encourage the monopolist to lower costs in the long run.
Many economists believe that competitive, market economies provide a natural antidote to employer discrimination known as the
Expectations that the price level will increase in the future will _____
Fill in the blank(s) with the appropriate word(s).