Based on the research findings of David Galenson, Robert Heavner and others, what type of person would you expect to negotiate an indenture contract of the longest duration?
a. a 13 year-old illiterate male who went to New York
b. a 22 year-old female weaver who went to Massachusetts
c. a 20 year-old male unskilled worker who went to the West Indies
d. a 21 year-old male blacksmith who went to the Pennsylvania
a. a 13 year-old illiterate male who went to New York
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Consider two individuals, Jesse and April, who hand paint kites and snowboards. Table 3.1 shows how much of each good Jesse and April can paint in one hour. Jesse's opportunity cost of painting one snowboard is painting
A) 1/8 of a kite. B) 1.5 kites. C) 8 kites. D) 12 kites.
An individual demand curve for a good is ____ her marginal utility curve for the good.
A. based on B. the mirror image around the vertical axis of C. twice as steep as D. half as steep as
Commodity money is something: a. that has no intrinsic value
b. that has an intrinsic value. c. that is based on a valuable metal. d. whose value never changes. e. whose value cannot be determined.
Scarcity means that: a. human desires are limited
b. resources are insufficient to satisfy all human desires. c. choices are unnecessary. d. all but the very wealthy must face choices.