Which one of the following was a basic economic conflict between the North and the South in the years preceding the Civil War?
A. The North opposed the high protective tariffs the South supported to protect its manufactured goods.
B. The South opposed the high protective tariffs the North supported to protect its manufactured goods.
C. The North demanded the abolition of slavery.
D. The North opposed the building of a transcontinental railroad.
B. The South opposed the high protective tariffs the North supported to protect its manufactured goods.
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Game theory was developed in the 1940s by John von Neuman, a mathematician, and an economist named
A) John Nash. B) Oskar Morgenstern. C) Milton Friedman. D) John Maynard Keynes.
In the IS equation, which of the following is an exogenous variable?
A) planned investment spending B) real interest rate C) consumption D) all of the above E) none of the above