Private initiative and financing were most important in
(a) the canal system of transportation.
(b) the steamboat system.
(c) the railroad system.
(d) none of the transportation systems.
(b)
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How does rapid price adjustment, as assumed in classical models, result in separation of real from nominal variables (the classical dichotomy)?
What will be an ideal response?
Suppose that the technology used to manufacture laptops has improved. The likely result would be:
A. a decrease in supply of laptops. B. a decrease in quantity supplied of laptops. C. an increase in supply of laptops. D. an increase in quantity supplied of laptops.
According to the World View chart in the text, from highest to lowest real GDP, which is correct?
A. United States, China, Germany, Japan, Canada. B. United States, China, Japan, Germany, Britain. C. USA, China, Japan, Germany, Britain. D. United States, Japan, China, Germany, Britain.
Pension funds ________
A) acquire access to funds by accepting deposits then using these monies to lend to households and firms B) raise funds by selling commercial paper then lend these funds to consumers C) are a special type of mutual fund D) acquire access to monies through the payment of premiums by employees