Which decision cannot be made at the margin?
a. whether to spend the day on Saturday watching movies or going hiking
b. whether to spend your two-week vacation at the beach or in town
c. whether to order a pepperoni or a cheese pizza
d. whether to move from Boston to Chicago
Ans: b. whether to spend your two-week vacation at the beach or in town
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According to your authors, the United States would probably not have experienced tremendous economic growth between 1800 and 1870 were it not for
A) slavery. B) sharecropping. C) antitrust legislation. D) balanced federal budgets. E) technological innovation.
With regard to the cost of the Civil War (1861–1865), Hughes and Cain (2011) argue all of the following except
(a) It mobilized idle men and other resources on a vast scale. (b) The cost of the lives lost can be measured using the concept of "human capital." (c) The war's cost could have purchased all the slaves from their owners at 1860 prices, given each slave family 40 acres and a mule, and still had $3.5 billion left over for "reparations"—back wages to the freed slaves. (d) The real burden was widely felt by those individuals who owned Confederate financial assets, those whose crops and farm animals were sequestered, those whose homes and farm buildings were destroyed, and the dead.