Two court cases that applied to the regulation of business were Munn v Illinois (1877) and Nebbia v New York (1934). Regarding these two cases, which of the following is true? (a) The former case, in effect, gave the federal government more comprehensive powers to regulate business than the latter case. (b) The latter case […]
Which of the following was NOT a part of Chandler’s (1977) description of the rise of big business in the 19th century? (a) Vertical integration of firms (b) The development of mass production (c) The development of mass distribution (d) The use of central planning to improve production techniques ANSWER (d)
Between 1860 and 1914, the concentration of industrial power did increase. What did members of the general public perceive to be the result of this heavy concentration? (a) Expanded output (b) Lower prices (c) A transfer of income away from consumers toward big businesses (d) All of the above ANSWER (c)
The growth of cities was due to the existence of important scale economies, which include all of the following except (a) Central water and sewer systems (b) Education systems (c) Crime, congestion and pollution (d) Police and fire protection ANSWER (c)
The proportion of Southern farms relying on slaves rose between 1840 and 1860 . Plus, the scale economies of slavery aggravated the chronic shortage of good Southern farmland. Indicate whether the statement is true or false ANSWER FALSE
According to Chandler (1977), the major event in business development in 1895–1904 was (a) the Granger cases. (b) Munn v Illinois (1877). (c) the rise of vertically integrated firms. (d) the merger wave. ANSWER (d)
Fiat money is: a. includes currency and gold in bank vaults. b. does not include coins. c. is backed by any sort of commodity. d. has no value outside of its use as money. ANSWER D
Historians are in general agreement that (a) railroads opened the country and were built at great risk ahead of demand, gambling on the future. (b) railroads sharply cut down transportation costs, linking the country together in all directions and spurring the nation’s growth far in advance of anything that might otherwise have been achieved. (c) […]
Which of the following are NOT true? a. Credit cards are the same as debit cards when determining the money supply. b. Credit cards are included in M2 but not M1. c. Credit cards do not impact the demand for money. d. Credit cards are a means of payment. e. All of the above are […]
Why did the money supply fall during the Great Depression? a. The monetary base fell throughout the Great Depression. b. The amount of currency fell during the Great Depression. c. The ratio of currency/deposits fell during the Great Depression. d. The money multipier rose during the Great Depression. e. None of the above. ANSWER […]
