Davis (1963) compares U.S. and British industrialization. What does he note in each country during industrialization?
(a) A rise in the number of giant banks in both countries
(b) A rise in the number of small banks in the U.S. but a rise in the number of giant banks in
Great Britain
(c) A rise in the number of small banks in Great Britain but a rise in the number of giant banks in
the U.S.
(d) A decrease in capital accumulation because of a small number of free banks
(b)
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Loan guarantees provided by the government for specific private-sector investments tend to
What will be an ideal response?
Property rights and territorial hunting rights:
a. had little bearing on the depletion of the beaver in 1700s. b. were lacking and thereby crucial to depletion of the beaver in the 1700s. c. could have provided incentives against overharvest of the beaver in the 1700s d. Both b and c are correct. e. None of the above are correct.
Which of the following was NOT true when Katharine McCormick was born in 1875?
A. Very few women went to college B. Birth control was illegal C. Women couldn't vote D. Women were not allowed to own property
Assume that society places a higher value on the last unit of X produced than the value of the resources used to produce that unit. With no spillovers, this information means that:
A. total cost is greater than total revenue. B. price is greater than marginal cost. C. marginal cost is greater than price. D. resources are being overallocated to X.