Measuring the size of future government deficits is complicated by all of the following except uncertainty about a. liabilities for future entitlements. b. future economic growth. c. future inflation. d. the future assets of the U.S. government. ANSWER D
Date: September 10th, 2020
With respect to the demand side, the Keynesian model a. includes monetary factors. b. provides a role for government spending and taxes. c. includes autonomous investment. d. All of the above e. None of the above ANSWER D
Date: September 10th, 2020
The main source of conflict between employers and their organized workers is over the (a) disparities in the wages and benefits between organized and unorganized labor. (b) disparities in the wages and benefits between employers and organized workers. (c) proceeds of selling goods and services made jointly between hired labor and business owners. (d) working […]
Date: September 10th, 2020
A deficit-financed tax cut will ____ national savings and _____ private consumption. a. have no effect on; increase b. increase; decrease c. decrease; decrease d. decrease; increase ANSWER D
Date: September 10th, 2020
According to the Cambridge approach to the quantity theory, people hold money: a. to store their wealth. b. to make transactions. c. as a substitute for consumption. d. only when they have to. ANSWER B
Date: September 10th, 2020
The International Monetary Fund, one of the Bretton Woods Institutions, (a) was meant to provide short-term credit. (b) was meant to provide long-term credit. (c) was meant to provide both short- and long-term credit. (d) was not meant to provide credit. ANSWER (a)
Date: September 10th, 2020
According to the Keynesians, labor contracts a. are unimportant for modern labor markets because few worker are unionized. b. mean that real wages are inflexible. c. mean that money wages never adjust. d. imply that nominal wages adjust, but only periodically. ANSWER D
Date: September 10th, 2020
Colonialists tried to attract precious metals and coins by raising or attempting to raise the colonial price of the foreign money. This is called devaluation. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
In connection with laborers, the law of conspiracy meant that (a) employers had every right to organize or conspire to keep wages low and prices high. (b) workers had every right to organize or conspire to keep wages high and working hours short. (c) workers could organize unions to promote their own interests as long […]
Date: September 10th, 2020
By the 1840s, (a) labor had achieved political power in the franchise, i.e., the right to vote. (b) unions per se were not considered by law to be conspiracies and therefore illegal. (c) peaceful picketing of businesses during strikes was considered to be legal. (d) all of the above were true. ANSWER (d)
Date: September 10th, 2020
