Which of the following was NOT a part of the American system of manufacturing?
(a) Interchangeable and standardized parts
(b) Use of indentured servants
(c) Mass production
(d) High capital intensities of production
(b)
Economics
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The fraction of additional income spent on imports is called the marginal propensity to import
Indicate whether the statement is true or false
Economics
How are the fundamental economic questions answered in a market economy?
A) Large corporations alone decide the answers. B) Households and firms interact in markets to decide the answers to these questions. C) Individuals, firms, and the government interact in markets to decide the answers to these questions. D) The government alone decides the answers.
Economics