Which statement is most accurate about the U.S. between 1800-1860?
a. New states were always permitted to choose whether they wanted to be free or slave states.
b. Slaves were prohibited from the western territories and new states.
c. The threat of having their jobs replaced by slaves led many southerners to unionize.
d. The total value of slaves in the U.S. increased substantially after the slave trade was stopped in the early 1800s.
d. The total value of slaves in the U.S. increased substantially after the slave trade was stopped in the early 1800s.
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In response to a temporary change in total factor productivity, the adoption of capital controls under a flexible exchange rate
A) amplifies the effect of this disturbance on both domestic output and the nominal exchange rate. B) amplifies the effect of this disturbance on domestic output and dampens the effect on the nominal exchange rate. C) dampens the effect of this disturbance on domestic output and amplifies the effect on the nominal exchange rate. D) dampens the effect of this disturbance on both domestic output and the nominal exchange rate.
Expected value represents the average of all outcomes if one were to undertake the risky event many times over and over again
What will be an ideal response?
Firm X owns both a grocery store and the parking lot outside the grocery store. In order to increase the traffic at the store, the store should
a. Decrease the prices on the goods sold in the store b. Increase the parking rates c. All of the above d. None of the above
An economic theory: a. should be as detailed as possible in order to model the complexity of an economy
b. is an abstraction from reality. c. is only useful if it rests on realistic assumptions. d. is unrealistic and therefore of dubious usefulness in explaining what occurs in a complex economy.