By fixing the mint price of gold among commercial nations under the Gold Standard, the exchange rate risk falls significantly, thus encouraging trade. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
According to the monetarists and new classical economists, a. only anticipated monetary policy actions will affect output and employment in the short run. b. only unforeseen monetary policy actions will affect output and employment in the short run. c. both anticipated and unanticipated monetary policy actions will affect output and employment in the short run. […]
Date: September 10th, 2020
Printing money was the main method the Union government used to finance the Civil War (1861–1865), and as a result the money supply in the North rose by a factor of 4. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The public-choice view states that a. all governments are bad and should be abolished. b. macroeconomic policymakers are only interested in the social good. c. policymakers in the public sector work for the public, whereas policymakers in the private sector have private interests. d. macroeconomic policymakers act to maximize their own welfare rather than acting […]
Date: September 10th, 2020
The Keynesian aggregate demand curve slopes downward because for any given money supply, an increase in the price level ______ real money holdings which _____ the interest rate and _____ income. a. increases; lowers; increases b. reduces; raises; reduces c. reduces; lowers; increases d. increases; raises; reduces ANSWER B
Date: September 10th, 2020
Some economists argue that unemployment compensation increases the natural rate of unemployment because it increases the amount of time people spending finding new work while without work. Additionally, it makes unemployment more visible with the steady growth in urbanization. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Growth in real output per person occurred, on average, in colonial America. This growth translated into a great improvement in the quality of life for all citizens. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
According to the 1790 census, the majority of whites had links to (a) the British Isles, thus explaining why British institutions were selected to guide development and growth in the colonies. (b) Germany, thus explaining why German institutions were selected to guide development and growth in the colonies. (c) Spain, thus explaining why Spanish institutions […]
Date: September 10th, 2020
The lag in the political rights of women can be positively associated with the lag in female wages and skill acquisition according to Goldin (1990). Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Which of the following statements is correct? a. In both the Keynesian and classical systems, aggregate demand is an important determinant of output and employment b. In classical and monetarist models, money is the primary factor determining changes in aggregate demand. c. Aggregate demand in the Keynesian model is determined entirely by the quantity of […]
Date: September 10th, 2020
