Licensing and regulation of business activities by colonial governments
(a) occurred only infrequently.
(b) was a common practice in early colonial times but the British eventually replaced it with a policy
of laissez faire before the American Revolution.
(c) was very common throughout the colonial period just as it is today.
(d) is basically inconsistent with American concepts of freedom of enterprise and so has never been common practice in either colonial or modern times.
(b)
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In the figure above, when 6,000 pizzas are produced, the marginal benefit of a pizza ________ its marginal cost, which means ________ pizza is being produced
A) exceeds; too little B) exceeds; too much C) is below; too much D) is below; too little E) equals; the efficient quantity of
In modern economies, the supply of money depends mainly on the economy's ________
A) tax rates B) mining of precious metals C) net exports D) growth of output of goods and services E) none of the above