The above table contains information about the nation of Syldavia. There are no income taxes or imports in this nation. The expenditure multiplier is equal to

What is an externality? How are positive externalities different from negative externalities?

What will be an ideal response?

After computing the social savings from the railroads, Fogel concluded that ______

a. the railroads were indispensable to the economic development of the United States b. the railroads were not indispensable in 1850 but by 1890 were dispensable c. the railroads could explain only a small fraction of the growth in real income in the United States d. economics is not sufficiently scientific to make a meaningful calculation of the social savings