Clipper ships
a. allowed for profitable shipping on both short and long journeys.
b. dominated Atlantic trade by 1850.
c. were among the first ships to have iron hulls.
d. earned huge profits transporting passengers and cargo during the gold rushes to California and Australia.
e. All of the above.
d. earned huge profits transporting passengers and cargo during the gold rushes to California and Australia.
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Suppose real GDP was 100 in year 1 and 105 in year 2. The growth rate of real GDP is
A) 0.5 percent. B) 1.5 percent. C) 2.5 percent. D) 5 percent.
Spending VCU4 on real-world goods and services causes the nation's:
a. Demand for real goods and services to remain the same and monetary base to rise. b. Demand for real goods and services to rise and M2 money supply to fall. c. Demand for real goods and services to remain the same and M2 money multiplier to remain the same. d. Demand for real goods and services to rise and monetary base to remain the same.