Data on miles of main line track in operation between 1860 and 1910 show that:
a. total mileage first increased and then decreased, causing the growth rate to eventually become negative.
b. total mileage and the growth rate both increased steadily.
c. total mileage increased steadily, but the growth rate tapered off.
d. total mileage increased at a constant pace, resulting in a nearly constant growth rate.
c. total mileage increased steadily, but the growth rate tapered off.
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When the Fed sells $100 million of securities to a commercial bank, the
A) monetary base increases. B) money supply increases. C) bank's reserves decrease. D) required reserve ratio decreases. E) bank's reserves do not change.
According to research by William Shepherd, competition has increased in U.S. industries since World War II due to
a. both c and d b. all of the following c. international trade d. deregulation e. antitrust activity