The Civil War (1861–1865) was the root of which modern-day belief(s)?
(a) The Thirteenth Amendment of the Constitution, which prohibits slavery and involuntary servitude in the U.S.
(b) The belief that wars can stimulate industrialization.
(c) The belief that wars can effectively mobilize resources, boost employment and heighten production without inflationary consequences.
(d) All of the above.
(a)
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When property rights are clearly defined, there is generally a
A) law that must be passed to ensure fairness. B) regulatory agency that handles externalities. C) common property problem. D) voluntary agreement that can be reached.
For a number of years, General Motors used a pricing strategy designed to maintain at least 40 percent of the American car market. Does this strategy suggest that GM was maximizing profits or pursuing an alternative strategy?
Using an approximation to the UIP eqaution to determine the spot exchange rate, assume that the expected spot rate (after 1 year) for euros (in terms of dollars)= $1.50, the current interest rate on euro deposits is 2% and the current interest rate on dollar deposits is 6%. What current spot for euros would satisfy the equation?
a) $1.5*(1+2%)= $1.53 b) $1.5*(1-2%)= $1.47 c) $(1.5/(1+4%)= $1.442 d) $(1.5/(1-4%)= $1.563
Answer the following questions true (T) or false (F)
1. A redwood forest is not an example of a factor of production but the harvested and processed redwood is a factor of production. 2. The idea underlying Adam Smith's "invisible hand" is that people tend to behave in ways that go unnoticed in society. 3. The payment received by suppliers of entrepreneurial skills is called rent.