As canals, steamboats, and railroads were built,
a. home production declined.
b. manufacturing by artisans increased.
c. prices of basic goods like clothing increased.
d. product quality declined.
e. All of the above.
a. home production declined.
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Answer the next question(s) based on the following supply and demand schedules in units per week for a product.PriceQuantity DemandedQuantity Supplied$601004005014034040180280302202202026016010300100If the government introduced a guaranteed price floor of $40 and agreed to purchase surplus output, then the government's total support payments to producers would be
A. $3,000 per week. B. $4,000 per week. C. $2,500 per week. D. $3,500 per week.
The effective return from a foreign investment is
A) the domestic interest rate plus the forward premium (discount). B) the foreign interest rate plus the forward premium (discount). C) the nominal interest rate minus inflation. D) the real interest rate.
In the above figure, the opportunity cost of moving from point D to point E is
A) 75 guitars. B) 55 guitars. C) 100 ukuleles. D) 100 guitars.
The rate at which banks can borrow excess reserves from other banks is equal to
A) the discount rate. B) the required reserve ratio. C) the interest rate paid on reserves held with the Fed. D) none of the above.