Which of the following antebellum transportation innovations earned the greatest rate of return?
a. corporate-owned turnpikes
b. the National Road
c. the Erie Canal
d. the Mainline Canal
c. the Erie Canal
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The reason long run market supply curves are shallower than short run market supply curves is because individual firm supply curves are shallower in the long run than in the short run.
Answer the following statement true (T) or false (F)
Subprime mortgages are mortgage loans:
A. made to borrowers with low credit scores. B. that have less than prime interest rates. C. made to borrowers with higher than average credit scores. D. made at lower than general market interest rates.
A theory is a(n) __________ representation of how two or more variables interact with each other.
a. simplified b. complex c. alternative d. contradictory
Suppose there are only two goods (Good A and Good B) and the average person buys 8 of Good A in a year and 6 of Good B. If, in the base year, the Price of Good A is $8 and the Price of Good B is $6, and in the next year the Price of Good A is $10 and the Price of Good B is $5, the price index in the second of the two years
A. is 100. B. is 110. C. is 10. D. is 120.