An increase in the required reserve ratio will lead to a/an: a. increase in the monetary base. b. increase in the money multiplier. c. increase in the money supply. d. both b and c. e. both a and c. ANSWER D
Date: September 10th, 2020
In Nebbia v New York (1934), the doctrine of Munn v Illinois (1877) (a) was held to be irrelevant. (b) was upheld for all cases. (c) was upheld for interstate commerce. (d) was overturned explicitly. ANSWER (b)
Date: September 10th, 2020
Research in history and economic history shows that before 1880, (a) there was some government intervention in the private sector of the American economy. (b) there was substantial federal regulation of private business organization but little influence in the economy otherwise. (c) the regulation and participation that existed were usually of a background nature and […]
Date: September 10th, 2020
Assuming a decrease in money demand, then to keep interest rates constant the Fed must a. keep the money supply constant. b. conduct an open market sale of bonds. c. accommodate the decreased demand for money by the public by increasing the money supply. d. All of the above e. None of the above […]
Date: September 10th, 2020
Government participation in railroad construction was highest in (a) New England. (b) the South. (c) the Midwest. (d) the Great Lakes Region. ANSWER (b)
Date: September 10th, 2020
The Gallatin Plan (1808) to provide internal land and water transport in the eastern part of the country was a plan that (a) called for the federal government to finance and build the transport system. (b) called for the eastern states to join together to finance and build the system. (c) called for private financing […]
Date: September 10th, 2020
Robert Fogel (1964) demonstrates that (a) the social saving of the railroad was large; much of the country (over 25%) could not have been settled and cultivated without the railroad. (b) the canal and river systems of transportation could very nearly have produced the same results as the railroad in terms of land cultivated. (c) […]
Date: September 10th, 2020
The Gallatin Plan (1808) (a) was a plan by the U.S. Senate for a comprehensive system of internal land and water transport in the eastern part of the country to be built by the federal government. (b) was promoted on the basis that only the federal government could command sufficient resources to build a transportation […]
Date: September 10th, 2020
The Sherman Antitrust Act of 1890 (a) did not specify what economic actions are legal. (b) said that only competitive economic actions were legal. (c) declared illegal every combination in restraint of trade. (d) declared none of the above. ANSWER (d)
Date: September 10th, 2020
The Sherman Antitrust Act of 1890 was not well understood because (a) skilled lawyers were not involved in its creation. (b) judges were mainly political hacks and therefore were unable to follow the logic of the Act. (c) vested interests had been allowed too much influence in drafting the legislation. (d) the purpose of the […]
Date: September 10th, 2020
