Answer:
A. Forced introduction of a national currency.
B. Provided federal contracts to arms and clothing manufacturers.
C. Improved infrastructure particularly in the form of the transcontinental railroad and telegraph systems.
Explanation:
The Civil War was a war between the then Northern States who comprised the Union and the then Southern States who comprised ti Confederacy in an attempt to get the Confederacy to rejoin the United States of America.
The war had many casualties but some good was done to the economy in terms of the following;
- There was a forced introduction of a national currency known as the Greenbacks after Congress passed the Legal Tender Act of 1862.
- The Federal Government increased spending in the economy by providing federal contracts to arms and clothing manufacturers to aid the troops.
- Improved infrastructure to enable information get to soldiers faster as well as to move soldiers faster especially in the areas of telegraph development and the construction of the transcontinental railroad.
Answer:
The answer is: 7% annual growth rate
Explanation:
The Rule of 70 is a way to determine how many years it will take an economy to double its GDP (or GDP per capita) with a given annual growth rate.
The formula used by the Rule of 70 is:
number of years = <u> 70 </u>
to double an economy annual percentage growth rate
In this exercise we substitute the known variables and calculate:
10 years = 70 / (annual growth rate)
annual growth rate = 70 / 10 = 7%
Answer:
b. left by $500 billion.
Explanation:
Given marginal propensity to consume, MPC = 0.8
Marginal propensity to consume + Marginal propensity to save = 1
MPC + MPS = 1
0.8 + MPS = 1
MPS = 1-0.8
MPS = 0.2
Now, the government multiplier = 1/MPS
The government multiplier = 1 / 0.2 = 5
Total fall in aggregate demand = Government multiplier × Government purchases
= 5 ×100
= $500
Since there is a fall in spending so the aggregate demand curve will shift leftwards.
Therefore, the correct option is b. left by $500 billion.
a. Mack does not have to accept the shipment
b. Olive Outlet has accepted and breached the contract
c. Olive Outlet's shipment is considered a counteroffer
d. Mack cannot revoke based on principles of promissory estoppel
Answer:
d. Mack cannot revoke based on principles of promissory estoppel
Explanation:
Promissory estoppel refers to the doctrine in contract law that allows a party's recovery for damages suffered based on the party's reliance on a promise even if there is no legal contract between the aggrieved party and the party that fails on the promise. From the above this stops mack's bar from going back on its promise to buy the goods of Olive outlet even there is no legal contract yet as olive outlet may have already suffered damages.
Answer:
4 apples
Explanation:
Given that
Point A = 50 apples and 40 pears
Point B = 46 apples and 41 pears
These points are located on the PPF at which various combinations of products are displayed by available resources and technologies.
So, the opportunity cost of moving from Point A to Point B would be 4 apples which is shown below:
= Point A apples - Point B apples
= 50 apples - 46 apples
= 4 apples