The most important source of foreign exchange earnings to offset the colonial deficit with England was
a. insurance charges and merchant commissions.
b. the sale of ships.
c. the sale of colonial shipping services.
d. inflows of sterling from British forces stationed in the colonies.
c. the sale of colonial shipping services.
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Which of the following is NOT a characteristic of monopolistic competition?
A) large number of sellers B) differentiated products C) advertising D) barriers to entry
The price of a new textbook increases from $200 to $270, while the price of used copies of the textbook increased from $100 to $125. Other things being equal, we would expect
A. the quantity demanded of the used textbook to increase and the quantity demanded of the new textbook to decrease. B. the demand for the new textbook to increase and the demand for the used textbook to decrease. C. the quantity demanded of the used textbook to decrease and the quantity demanded of the new textbook to increase. D. the quantity demanded of both to fall.