The economy of the northern colonies, in particular New England, was largely based on
(a) small-scale farming.
(b) slave trade.
(c) cotton production.
(d) all of the above.
(a)
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Corporations in the United States spend a lot of money to familiarize management with global markets. This should
A. Move the economy from a point on the production possibilities curve to a point inside it. B. Have no effect on the economy's production possibilities curve. C. Shift the economy's production possibilities curve inward. D. Shift the economy's production possibilities curve outward.
Which of the following would tell us that resources are NOT flowing to their highest valued uses?
A. short-run economic profits B. Some firms are just breaking even. C. short-run economic losses D. long-run economic profits
In a two-sided market with network effects, the platform will most likely
A. set the same prices for the two sides of the market. B. combine the two groups of the market before setting its price. C. set different prices for the two sides of the market. D. set a price of zero for both sides of the market.
Wage differentials between industries can be affected by productivity differences
Indicate whether the statement is true or false