What do taxes do? (a) Impact the incentive to use resources efficiently (b) Transfer income from the person or entity paying taxes to other individuals or entities (c) Affect the relative prices of goods, services and resources (d) All of the above ANSWER (e)
Date: September 10th, 2020
Employment in the tertiary sector in the 20th century showed (a) a marked cyclical tendency in harmony with the business cycle. (b) a leveling off in times of recession. (c) a downturn during cyclical expansions. (d) a steady increase since 1900. ANSWER (d)
Date: September 10th, 2020
The Keynesian AD curve differs from the classical AD curve in that: a. the classical AD curve can shift in response to non-monetary shocks. b. the Keynesian AD curve can shift in response to monetary shocks. c. the Keynesian AD curve can shift in response to non-monetary shocks. d. there is no difference, both are […]
Date: September 10th, 2020
The United States’ first income tax was imposed during (a) the American Revolutionary War (1763–1789). (b) the Civil War (1861–1865). (c) the 1930’s Great Depression. (d) World War II (1939–1945). ANSWER (b)
Date: September 10th, 2020
It has been hypothesized that the productivity slowdown could have been caused by all of the following except a. lower worldwide money growth. b. lower technology growth. c. higher oil prices. d. increased government regulation. ANSWER A
Date: September 10th, 2020
Which of the following statements is correct? a. The classical aggregate AD curve can be shifted by monetary and non-monetary factors. b. The classical AS schedule is horizontal while the Keynesian aggregate AS schedule is vertical. c. The Keynesian AD curve only shifts in response to monetary factors. d. The classical aggregate supply schedule slopes […]
Date: September 10th, 2020
President Woodrow Wilson (a) fostered the growth of government bureaucracy. (b) quickly returned the U.S. economy to a competitive market place. (c) remained neutral on the issue of whether the federal government should intervene in private market affairs. (d) mandated that Congress operate with a balanced budget. ANSWER (b)
Date: September 10th, 2020
Under the list policies of England, primary production was encouraged while production in manufacturing was discouraged in colonial America. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Economic developments after the Civil War (1861–1865) in the South include all of the following except (a) A decline in cotton prices with the result that poverty associated with cotton became a fixed feature of the South (b) The relatively widespread land ownership among the freed slaves (c) The widespread adoption of the sharecropping system […]
Date: September 10th, 2020
Many colonists believed that export surpluses with England positively impacted colonial businesses through increased prices and profits. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
