What was not a reason for the decline of the Deep South between the Civil War and 1890?
a. Elimination of economies of scale in the production process.
b. An extended period of droughts and bad weather.
c. Significant withdrawal of labor from the fields, especially by women and children.
d. Increased competition from cotton suppliers in other nations.
b. An extended period of droughts and bad weather.
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The telephone is an example of a product with network externalities
What will be an ideal response?
Union wages in the United States are, on average,
a. equal to nonunion wages b. twice as high as nonunion wages c. half of nonunion wages d. 15 percent higher than nonunion wages e. 50 percent higher than nonunion wages
If higher tariffs, such as those enacted by the Smoot-Hawley trade bill, reduce the imports of the United States, which of the following will be most likely to occur?
a. U.S. employment will increase. b. The unemployment rate of the United States will decline. c. U.S. exports will increase because foreigners will want to buy more from U.S. producers. d. U.S. exports will decline because foreigners will be earning fewer of the dollars needed to purchase goods and services from Americans.
Monetary policy is determined by ________.
A. Congress B. the central bank (the Fed) C. the president and her economic advisors D. the World Bank