King James of England granted the Virginia Company all land "from sea to sea." The Proclamation Line of 1763 supported this grant

Which of the following explains the vicious circle of poverty? a. By investing in education and infrastructure at the same time, the country can overcome the problems of poverty

b. Poverty arises out of the lack of investment, but they cannot invest because they are poor. c. A nation can shift its production possibility curve inward by shifting more resources into the production of capital goods. d. A nation can shift its production possibility curve outward by shifting more resources into the production of consumer goods. e. There are dual economies in the world: Some are rich and others are poor.

The fundamental cause of monopoly is

a. incompetent management in competitive firms. b. the zero-profit feature of long-run equilibrium in competitive markets. c. advertising. d. barriers to entry.