In the decades leading to the Civil War __________ supported high protective tariffs.
A. both the North and the South
B. neither the North nor the South
C. only the North
D. only the South
C. only the North
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A firm's demand for labor depends on the
A) nominal wage rate because it pays workers in dollars. B) real wage rate, which equals the nominal wage divided by the price level. C) real wage rate, which equals the nominal wage divided by the hours worked. D) nominal wage rate, which equals the real wage divided by the price level. E) supply of labor.
A positive externality is internalized when
A. demand shifts to the right until the socially optimum level of output is obtained. B. demand shifts to the left until the socially optimum level of production is obtained. C. supply shifts to the left until the socially optimum level of production is obtained. D. b and c E. none of the above
The actual or chronological time for the short and the long run does not vary from industry to industry
a. True b. False Indicate whether the statement is true or false
During the Great Recession, securitization:
a. Was a major problem because it prohibited mortgage originators from reducing their underwriting mistakes by shifting them investors. b.Was one of the only sources of relief for investors who were suffering heavy losses on their mortgage investments. c. Was a major cause of the moral hazard problem. d. None of the above.