In 1862, the Homestead Act made land available to farmers at zero cost. Yet many farmers preferred to purchase land along the rail line from the railroad. The farmers
a. were duped by the railroads.
b. knew the soil was better near the railroads.
c. realized that crops would be less costly to grow and transport on land near the railroads.
d. were exploited by the railroads.
c
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If the prices of the goods and services contained in the CPI market basket increase from the base period to the next year, we know that
A) the market basket used by the BLS must be changed next year to reflect consumers' new expenditures. B) the next year's CPI will be below 100. C) the next year's CPI will be above 100. D) the inflation rate is falling. E) the cost of the CPI market basket at next year's prices is lower than the cost of the CPI market basket at base period prices.
If P rose by 20% and Q stayed the same, what would happen to MV?
What will be an ideal response?
An example of a positive statement is:
A) The rate of unemployment is 4 percent. B) A high rate of economic growth is good for the country. C) Everyone in the country needs to be covered by national health insurance. D) Baseball players should not be paid higher salaries than the president of the United States.
Which of the following will lead to a depreciation of the U.S. dollar against the British pound?
A. an increase in British demand for U.S. imports B. a decrease in British demand for U.S. assets C. a decrease in U.S. demand for British goods D. an increase in U.S. interest rates