Andrew Carnegie, the first U.S. steel mogul, built his empire by
a. patenting each new type of steel
b. owning all of the U.S. iron ore deposits
c. being the most efficient, that is, having the lowest ATC
d. buying up his competitors
e. enlisting the protection of the government
D
Economics
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In the simple Keynesian cross model with no government or foreign sectors, the value of the multiplier is defined as
A) 1/(MPC - 1). B) 1/(1 - MPC). C) 1/(MPC + 1). D) 1/MPC.
Economics
According to Nakamura and Steinsson's research, prices are ________ sticky than Bils and Klenow found because the latter failed to account for ________
A) more; sales B) more; taxes C) less; taxes D) less; sales
Economics