The piecemeal actions of Parliament to curtail the various colonial manufacturing activities
a. stemmed from a deep-seated fear of American competition.
b. were punitive, in response to colonial smuggling and price dumping.
c. were a roundabout attempt to undermine the colonial shipbuilding industry.
d. were largely taken to protect vested, well-lobbied interests.
d. were largely taken to protect vested, well-lobbied interests.
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A good is normal for a consumer if
A) it is always consumed in a consistent quantity. B) its consumption rises when income rises. C) its consumption falls when income rises. D) some minimal level of the good must be consumed to assure the consumer's survival.
Which of the following is true regarding utility along a price-consumption curve?
A) It is constant. B) It changes from point to point. C) It changes only if income changes. D) It changes only for normal goods.