The Interstate Commerce Commission (ICC) (1887–1995) was the very first attempt by Congress and/or the federal government to regulate the railroads; regulation had previously come solely from the states. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
In a system of flexible exchange rates, expansionary monetary policy abroad would induce a. a rise in the U.S. exchange rate. b. a fall in the U.S. rate of exchange. c. a balance of payments surplus for the United States. d. no change in U.S. exchange rates. ANSWER A
Date: September 10th, 2020
Which of the following factors are included in the determination of growth rates of output in the intermediate run? a. Variations in the rates of capital formation. b. Growth in the labor force that results from growth in the working age population as well as changes in labor force participation rates. c. Variations in the […]
Date: September 10th, 2020
The Great Northern railroad was privately managed well by James J. Hill (1889) and never went bankrupt. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The monetarists emphasize the a. importance of fiscal policy for determining GDP. b. the instability of the money supply. c. the stability of velocity. d. need to “fine tune” the level of economic activity. e. both b and c. ANSWER E
Date: September 10th, 2020
With a fixed exchange rate, an increase in the domestic price level will, for a constant foreign price level, a. increase exports and decrease imports. b. make foreign goods relatively more expensive to U.S. citizens but U.S. exports will be relatively cheaper to foreigner buyers. c. increase both exports and imports. d. make foreign goods […]
Date: September 10th, 2020
Which group came out of World War I (1914–18) better off? (a) Industrial and agricultural workers (b) Creditors (c) Individuals depending on investment (d) People living on fixed incomes ANSWER (a)
Date: September 10th, 2020
Which of the following revenue-raising options did the “colonial” government select to secure the resources needed to revolt? (a) Printing money and borrowing from other countries (b) Printing money and confiscating property (c) Taxing and borrowing from other countries (d) Taxing and reducing non-military government spending ANSWER (b)
Date: September 10th, 2020
Supply-side economists argue that taxing of nominal gains and interest earnings during inflationary periods a. results in an increased effective tax rate on real returns but will not retard saving. b. will retard saving but will not increase the effective tax rate on real returns. c. will increase the effective tax rate on real returns […]
Date: September 10th, 2020
The current account in a nation’s balance of payments accounts includes a. exports of U.S. computers b. imports of German automobiles. c. purchases of foreign stocks. d. Both a and b e. All of the above ANSWER D
Date: September 10th, 2020
