Fogel's work (1964) on the economic impact of railroads is mostly written in response to
(a) Rostow's takeoff theory.
(b) Schumpeter's theory of railroads building ahead of demand.
(c) David's theory of path dependency.
(d) Engerman's theory of multiroute analysis.
(a)
Economics
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When Zane deposits $20,000 cash in his checkable deposit at the Citicorp and the Citicorp's desired reserves increase by $5,000, the desired reserve ratio is
A) 25 percent. B) 75 percent. C) 5 percent. D) 20 percent. E) $5,000.
Economics
The short run is the time period during which
a. all of the firm's costs are fixed. b. the value of the firm's assets starts to decay. c. the firm can adjust all inputs freely. d. some of the firm's input decisions are constrained by previous commitments.
Economics