Western expansion contributed to U.S. growth and development of the economy by
(a) privately mobilizing idle natural resources and land.
(b) placing land in the hands of the public, with no private rights.
(c) having government officials set land prices.
(d) all of the above.
(a)
You might also like to view...
Give some examples of transactions in markets which are not regulated or controlled
What will be an ideal response?
The concept of "invisible hand" introduced by Adam Smith explains: a. why people act in their own best interests
b. why the government intervenes to overcome failures in private markets. c. how people, acting out of self-interest, unintentionally promote the general good. d. how comparative advantage and specialization promote international trade. e. how the creation of goods and services generates its own demand by creating employment and income.
If a bank gets a $100,000 new deposit, chooses to lend out $75,000, and increases its excess reserves by $5,000 at the same time, then the reserve requirement is: a. 30%
b. 25%. c. 20%. d. unable to be determined from the information given.
f the long-term supply curve for rental units becomes more elastic, what will be one of the results of rent controls over the long run?
a. The availability of rentals will remain unchanged. b. Efficiency in the rental property market will increase. c. The number or rentals available will increase. d. Deadweight loss will increase significantly.