The inflation that occurred during the Civil War (1861–1865) (a) was a means of expropriating resources to fight the war. (b) was a form of taxation to provide resources to fight the war. (c) represented a decrease in the purchasing power of money. (d) was true for all of the above. ANSWER (d)
Date: September 10th, 2020
The shortage of precious metals or coins provided colonists with incentives to find alternatives. These alternatives included everything listed below except (a) Teeth (b) Country money (c) Fiat money (d) Bills of credit ANSWER (a)
Date: September 10th, 2020
Since the 1970s, the income tax system in the U.S. has become a. less regressive. b. more aggressive. c. less progressive. d. regressive e. more proportional. ANSWER C
Date: September 10th, 2020
By the end of the 20th century, the countries of origin of the new U.S. immigrants shifted away from its European majority. A smaller percentage of total immigrants arrived from Europe, and more and more came from Asia, Canada and Mexico. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Wartime inflation occurs when war requires a country to shift resources away from efficient uses into war-related production. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The tradeoff between equity and efficiency is evident in debates over a. how progressive our tax code should be. b. how generous our government spending programs should be. c. the debate over international trade policy. d. the debate over labor unions. e. all of the above. ANSWER E
Date: September 10th, 2020
What impact did colonial inflation have on the colonial economy? (a) An overall increase in private consumption spending in colonial America (b) A decrease in interest rates in colonial America (c) A decrease in colonial exports and a rise in colonial imports (d) An increase in the exchange rates between colonial money and specie […]
Date: September 10th, 2020
Which of the following policies followed by the Clinton administration were not Keynesian policies? a. Reducing the budget deficit during a strong expansion. b. Concentrating tax increases on upper income households. c. Attempting to increase government spending in 1992 when the U.S. economy was below its natural rate of output. d. Adjusting capital gains taxes […]
Date: September 10th, 2020
Assuming that there is an excess supply of money in the classical model, then a. a matching excess demand for commodities will lower the aggregate price level. b. a corresponding excess demand for commodities will drive the aggregate price level up. c. an equal excess demand for commodities will not affect the price level. d. […]
Date: September 10th, 2020
In the new classical model, the aggregate supply schedule depends on a. the expected level of the money stock. b. the expected price level. c. the expected values of fiscal policy variables and other possible determinants of aggregate demand. d. Both a and c e. All of the above ANSWER B
Date: September 10th, 2020
