Data on Northeastern manufacturing firms show that firm size (number of workers per firm) increased for _________________ between 1820 and 1860
a. mechanized industries
b. non-mechanized industries
c. mechanized and non-mechanized industries
d. only the textile industry
c. mechanized and non-mechanized industries
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Refer to Scenario 21-1. Based on the information above, what is the level of private saving in the economy?
A) $3 trillion B) $4 trillion C) $5 trillion D) $8 trillion
Because air cargo as an industry involves the generation of pollutants in engine exhaust, the equilibrium price of air cargo services
A) is above the optimal level, and quantity is below the optimal level. B) is below the optimal level, and quantity is above the optimal level. C) and quantity of trucking services are both above the optimal level. D) and quantity of trucking services are both below the optimal level. E) must fall in order for the market to reach equilibrium.
First-price auctions have all the following properties EXCEPT
a. Highest bid wins b. Highest bidder pays the second highest bid c. The good is assigned to the highest bidder d. The price is set to the highest bid
GDP measures the output produced within a nation's borders
a. True b. False