By restricting the amount of precious metals going into the colonies, the British significantly hindered economic growth in colonial America. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
By the time the Civil War (1861–1865) ended, hyperinflation was a problem in both the North and the South. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Sharecropping after the Civil War (1861–1865) was the land tenure of black and white non-landowning farmers in about equal proportions. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The assumption of constant velocity is a critical component of the a. monetarist model. b. classical model. c. real business cycle model. d. new classical model. e. all of the above. ANSWER E
Date: September 10th, 2020
If the nominal money supply rises by 6 percent, the price level rises by 4 percent, and output rises by 3 percent, then according to the quantity theory equation, income velocity must rise by: a. 7 percent b. 13 percent c. 1 percent. d. 3 percent. ANSWER B
Date: September 10th, 2020
By the late 1880s, the main difference between the American Federation of Labor (AFL) and the Knights of Labor was (a) the relatively low dues charged members by their AFL locals. (b) the broader membership base of AFL locals compared to the Knights. (c) the AFL’s commitment to “progressive” politics. (d) the narrow membership qualifications […]
Date: September 10th, 2020
Unemployment in the post-World War II era (1945–50) (a) was reduced only because of the post-war decline in the size of the civilian labor force. (b) rose above wartime levels, but remained far below the levels of the 1930s. (c) rose in response to the decline in civilian consumption levels. (d) remained at the low […]
Date: September 10th, 2020
Assuming a horizontal aggregate supply curve, output will change when a. monetary or fiscal policy changes. b. monetary policy changes. c. fiscal policy changes. d. capital, labor, or technology changes. e. all of the above ANSWER E
Date: September 10th, 2020
In the classical model, a 20 percent increase in the money growth rate leads to: a. a 20 percent inflation rate. b. a 23 percent increase in the inflation rate. c. no change in the inflation rate. d. a 20 percent increase in the inflation rate. ANSWER D
Date: September 10th, 2020
Paper money helped colonists pay soldiers for services provided when specie was not available. This money was fiat money; it did not possess specie backing. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
