During the antebellum period U.S. tariffs on imported cotton textiles:
a. increased profits for British textile producers.
b. decreased the prices of cotton textiles in the U.S.
c. were supported by the southern states.
d. were harmful to U.S. textile producers and their employees.
e. None of the above is correct
e. None of the above is correct.
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Using the rule of 70, a sustained 3 percent per year real GDP growth rate will
A) last for 70 years. B) double the current level of real GDP in about 23 years. C) double the current level of real GDP in about 210 years. D) double the current level of real GDP in about 70 years. E) double the current level of real GDP in about 40 years.
When the price of a good rises, the demand for its complements will tend to rise
Indicate whether the statement is true or false
If the Fed purchases government securities from Bank A, __________ in the banking system __________ and the money supply __________
A) reserves; fall; falls B) reserves; rise; falls C) reserves; rise; rises D) excess reserves; fall; rises E) excess reserves; rise; falls
A cutthroat competitor will not lower their price because they believe that
A. their competitors will lower their prices too. B. their competitors will raise their prices. C. they will lose money. D. they will be accused of unfair competition.