The reminiscences of two famous people who were born into slavery, Frederick Douglass and Booker T. Washington, include all of the following except
(a) The common custom among slave owners was to ensure that small children of slaves
had the nurturing of both parents until they reached good working age.
(b) Their early years were not very different from thousands of other slave children.
(c) Their fathers were white men.
(d) They saw their mothers infrequently, only a few times in their lives, or only sometimes
in the early morning hours before their mothers went to work or late at night.
(a)
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Economies of scale and limited demand can form a natural barrier to entry that can create a natural oligopoly
Indicate whether the statement is true or false
In a perfectly competitive resource market, the marginal resource cost of a resource equals the price of the resource
a. True b. False
Unemployment or underemployment of labor might explain why an economy would be operating inside its production possibilities curve (PPC)
a. True b. False Indicate whether the statement is true or false
A criticism of market-oriented schemes says that consumers may not be well informed.
A. True B. False C. Uncertain