The abrupt end of long distance cattle drives in 1885 was primarily due to
a. the development of railroad cars that could haul cattle.
b. organized efforts by northern cattlemen to reduce overstocking of cattle on the northern ranges.
c. the advent of barbed wire fences.
d. a reduced demand for beef in both domestic and export markets.
b. organized efforts by northern cattlemen to reduce overstocking of cattle on the northern ranges.
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An increase in autonomous investment in an economy will _____
a. shift the aggregate expenditure line upward b. shift the aggregate expenditure line downward c. result in an upward movement along the aggregate expenditure line d. result in a downward movement along the aggregate expenditure line e. increase aggregate expenditures only at high levels of income
In what is known as direct exporting, the exporter sells goods directly to or through an independent domestic intermediary in the exporter's home country that then exports the products to foreign markets.
a. true b. false
In the Stackelberg model,
A. one firm plays a leadership role and its rivals merely react to the leader's quantity. B. each firm takes the quantities produced by its rivals as given. C. prices are higher and quantities are slightly less than we would see if the firms colluded to achieve the monopoly outcome. D. each firm takes the prices charged by its rivals as given.
You shop at the local drugstore because it is convenient. This situation is best described as:
a. a market with horizontal demand. b. monopolistic competition with differentiation by location. c. differentiation by a cartel. d. differentiation by style or type.