Francis Lowell's Boston Manufacturing Company:
a. specialized in the production of one type of cloth.
b. combined all stages of cloth production in one plant.
c. sold its product throughout the U.S.
d. used power looms for weaving.
e. All of the above.
e. All of the above.
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Full employment means
A) zero unemployment. B) only cyclical unemployment exists. C) only frictional and structural unemployment exists. D) None of the above answers are correct.
Both ________ and ________ were financial innovations that occurred because of interest rate volatility
A) adjustable-rate mortgages; commercial paper B) adjustable-rate mortgages; financial derivatives C) sweep accounts; financial derivatives D) sweep accounts; commercial paper
Profit is the return to entrepreneurship.
Answer the following statement true (T) or false (F)
The deadweight or social loss of monopoly:
a. is representative of production inefficiency. b. reflects a transfer from consumer surplus to monopoly profit. c. is representative of the low sales resulting from the high price charged by the monopolist. d. reflects that part of lost consumer surplus which is not transferred to monopoly profit.