The ultimate purpose of building an economic model is to
a. challenge college students
b. constrain economic agents
c. predict behavior
d. change behavior
e. prevent behavior
C
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Crowding out, following an increase in government spending, results from (the exchange rate is the foreign exchange price of the domestic currency)
A) higher interest rates and a lower exchange rate. B) lower interest rates and a lower exchange rate. C) lower interest rates and a higher exchange rate. D) higher interest rates and a higher exchange rate.
The demise of debt peonage in the post-Civil War South was partly due to all of the following except:
a. the arrival of the boll weevil. b. improved transportation and the growth of mail-order houses. c. increased urbanization and industrialization. d. federal land reform legislation that redistributed the ownership of southern land.