Which of the following industrial changes allowed the smallest start-up manufacturers to compete with great industrial capitalists?
A. A positive trade balance at the turn of the 20th century.
B. The completion of the national railroad network.
C. The development of the moving assembly line as a division of labor in manufacturing.
D. The transition from private electric generators to centralized utility based power production.
D. The transition from private electric generators to centralized utility based power production.
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Government actions to compel more competition in an industry
A) always entail costs, which must be compared to any gains created by the policy. B) always have the effect of lowering prices to consumers. C) cannot benefit anyone if they result in greater inefficiency. D) will result in lower prices but cannot bring about a larger output. E) will not succeed because competition, like morality, cannot be legislated.
Average product equals the
A) increase in output that results from a one-unit increase in the quantity of labor employed with all other inputs remaining the same. B) total amount of output produced. C) total amount of output produced divided by the quantity of labor employed. D) total amount of output produced divided by price of the output.
The U.S. Gini coefficient shows that income inequality
a. increased steadily over the last four decades b. remained fairly constant in the 1970s, and then increased steadily through the 1980s and 1990s c. increased gradually over the period 1947–1968, and then declined steadily through the 1990s d. has changed little over the last four decades e. has declined in relation to other developed economies
If an investor has a tax rate on interest income of 30% and the inflation rate is 4%, which bond has the highest expected real after-tax interest rate?
A. A municipal bond paying 6% B. A corporate bond paying 7% C. A Treasury bond paying 7% D. A Treasury bond paying 8%