in the late 1800s, subsidies were given

a. by the government to cattle ranchers in the west to encourage them to produce more cattle.

b. by large mining companies to individual prospectors who would search for deposits of precious metals.

c. by the government to railroad companies to encourage the expansion of railroads in the east.

d. by the government to railroad companies to encourage expansions of railroads in the west.

Mankiw attributes – chapter 1 and his 10 principles – differences in living standards within a countryover time and across countries at a moment in time to: a. the presence or absence of inflation and unemployment.b. the allocation of resources between private markets and the public sector.c. those that have dealt successfully with the efficiency v. equality tradeoff and those that haven’t.d. differences in productivity.e. ones that think at the margin and respond to incentives and those that don’t.