Of the following, which group has the fastest-growing population in the United States?
a. female heads of households
b. male heads of households
c. white heads of households
d. black heads of households
e. single people
A
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The fact that indifference curves are bowed in toward the origin
A) is not true. B) follows from the fact that more is preferred to less. C) follows from the property that the consumer likes diversity in his or her consumption bundle. D) follows from the property that consumption and leisure are normal goods.
According to quantitative estimates of the burden of the Navigation Acts on the colonies, what can be said about the (net) effect of the Acts?
a. The Navigation Acts placed a serious economic burden on the colonies, with estimates of this burden equaling roughly 40 percent of 1770s GNP. b. The Navigation Acts were the critical reason why colonists revolted against the British. c. After accounting for the protection provided by the British, there was very little economic burden to colonists from the Navigation Acts. d. Existing data do not allow for credible estimates of the economic burden of the Navigation Acts on the colonies.