Which transportation industry did government invest most heavily in before 1860?
(a) Turnpikes
(b) Canals
(c) River steamboats
(d) Railroads
(d)
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In peak-load pricing, once capacity is reached, the firm's short-run marginal cost curve becomes ________.
A) negative B) vertical C) horizontal D) upward sloping
In game theory, actions such as cheating that focus solely on short-run gains are referred to as
A) territorial behavior. B) tit-for-tat strategic behavior. C) predatory behavior. D) opportunistic behavior.
In a 2007 New York Times article Paul Krugman wrote that
a. the infant-industry argument works well as an argument in favor of protection for the U.S. steel industry. b. the negative effects of third world exports on U.S. wages may be increasing. c. there are social gains to the U.S. from free trade. d. high wage countries account for a growing share of U.S. imports of manufactured goods.
Which of the following is a market in which banks lend reserves to one another?
A) required reserve market B) open market C) discount market D) federal funds market