Which of the following is true?
A. The completion of the transcontinental railroad system in the 1880s eventually made the United States the world's first mass market.
B. Southern manufacturers benefited from high protective tariffs of the 19th century that kept out cheaper Japanese manufactured goods.
C. The canal system linking east-coast rivers with the Great Lakes in the 1820s created an "American economy" rather than just a series of regional economies located in one country.
D. Agricultural inventions such as John Deere's steel plows did little to improve farm productivity.
A. The completion of the transcontinental railroad system in the 1880s eventually made the United States the world's first mass market.
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A horizontal demand curve for a firm implies that
A) the firm is a monopoly. B) the market the firm is operating in is not competitive. C) the firm is selling in a competitive market. D) the products of that firm are very different from other firms' products.
If Sam can chop up more carrots per minute than Joe can, then
a. Joe has an absolute advantage in carrot chopping b. Joe must have a comparative advantage in carrot chopping c. Sam has an absolute advantage in carrot chopping d. Sam must have a comparative advantage in carrot chopping e. we can conclude nothing about absolute advantage