In Brinley Thomas' (1954)theory of the Atlantic Economy

question 45

Multiple Choice

In Brinley Thomas' (1954) theory of the Atlantic Economy,

• A) cotton exports to Europe drove the growth of the U.S. economy.
• B) people and capital moved to the U.S. when U.S. economic growth was strong.
• C) the peaks of the U.S. business cycle were closely aligned with that of European peaks.
• D) all of the above are true.

Explain the concept of the optimal level of provision for public goods.

Understand the principles behind the Tiebout hypothesis and Samuelson's theory of public expenditure.

Recognize and explain the drop-in-the-bucket problem.

Understand the significance of willingness to pay in the context of public goods.

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Definitions:

Relationship Communication

The exchange of information, feelings, and needs between partners in a relationship to enhance mutual understanding and connection.

Sternberg

Refers to Robert Sternberg, an American psychologist known for his theory on love and intelligence, including the Triarchic Theory of Intelligence.

Combinations of Passion

Possibly refers to the various ways in which individuals may experience and express deep feelings or enthusiasm towards people, activities, or interests.

Organizational Buyer

Entities such as companies, governments, and institutions that purchase goods or services for use in their operations, production, or resale.