Author Question: When the Pilgrims first arrived in North America, they established communal ownership of all ... (Read 144 times)

kamilo84 · **on:** Jun 29, 2018

When the Pilgrims first arrived in North America, they established communal ownership of all pastures and of all agricultural production. As is common with communal ownership, this communal ownership by the Pilgrims resulted in

A) underproduction and underconsumption.
B) underproduction and overconsumption.
C) overproduction and underconsumption.
D) overproduction and overconsumption.

Question 2

Suppose the measured unemployment rate is 6.1 and the true natural rate of unemployment is 5.1. If the chair of the Fed believes the natural rate of unemployment to be 6.7, then the chair will

A) stimulate the economy when it should be slowed.
B) slow the economy when it should be stimulated.
C) stimulate the economy, exactly as called for.
D) slow the economy, exactly as called for.