Keynesians view the economy as unstable as a result of the instability of aggregate demand. Which component of aggregate demand is primarily responsible? a. Net export b. expectations c. Consumption d. Private investment e. both b and d. ANSWER E
Date: September 10th, 2020
For the first time since the Civil War (1861–65), laborers were forced into active military service during World War I (1914–18). Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Money is always neutral. This statement is most likely to be made by a proponent of the a. new Keynesian model. b. monetarist model. c. real business cycle model. d. classical model. e. both c and d. ANSWER C
Date: September 10th, 2020
The South suffered from a labor shortage immediately after the Civil War (1861–1865) mostly because (a) freed slaves worked fewer hours. (b) freed slaves moved North. (c) Southern agriculture became mechanized. (d) Southern industry attracted workers away from agriculture. ANSWER (a)
Date: September 10th, 2020
What is the total money value of all goods and services evaluated at market prices called? (a) Gross Domestic Product (GDP) (b) Labor productivity (c) Wealth (d) Capita ANSWER (a)
Date: September 10th, 2020
With regard to the cost of the Civil War (1861–1865), Hughes and Cain (2011) argue all of the following except (a) It mobilized idle men and other resources on a vast scale. (b) The cost of the lives lost can be measured using the concept of “human capital.” (c) The war’s cost could have purchased […]
Date: September 10th, 2020
Even though reliable data is lacking, the Beard-Hacker Thesis maintains that the Civil War (1861–1865) (a) was more costly to the South than to the North. (b) ended Southern prosperity through the abolition of slavery. (c) increased immigration to the U.S. (d) sped up the industrialization of the U.S. ANSWER (d)
Date: September 10th, 2020
During the 20th century, the percentage of unskilled laborers in the U.S. rose steadily. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The position of the Keynesian aggregate demand schedule does not depend on the a. level of government spending. b. level of tax collections. c. level of autonomous investment expenditures. d. quantity of money. e. the price of inputs such as oil. ANSWER E
Date: September 10th, 2020
With regard to incomes at the time of the Revolution, (a) colonial incomes before taxation were high, but because of heavy taxation, after-tax incomes were lower than those of the British. (b) there is no data available that provide any information on the subject. (c) both before-tax and after-tax colonial incomes were lower than those […]
Date: September 10th, 2020
