What was the Federal Trade Commission (FTC), established in 1914, created to enforce? (a) U.S. foreign trade (b) The maritime code (c) The Interstate Commerce Act (d) The antitrust laws ANSWER (d)
Date: September 10th, 2020
If the monetary base doubles but the ratios of currency/deposit and reserves/deposits remain the same, then: a. The money supply doubles. b. The money supply quandrouples. c. The money supply changes by two times the money multiplier. d. The money supply remains unchanged. ANSWER C
Date: September 10th, 2020
What is the function of the system of federal regulation created by Congress from 1887 until now? (a) To change the outcomes of market decisions (b) To enforce the outcomes of market decisions (c) To replace market allocations with economic planning (d) To enforce the law ANSWER (c)
Date: September 10th, 2020
Which statement best describes the railroad? (a) It is a good example of “technology transfer” (from England to the U.S.)—the first operating railroad was in England. (b) It is an American home product—the first operating railroad was in the U.S. (c) It was invented in England but first put into operation in the U.S. (d) […]
Date: September 10th, 2020
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
