Which macroeconomic model dominated macroeconomic analysis from the early post-World War II era until the late 1960s? a. The monetarist model b. The Keynesian model c. The classical model d. The new classical model e. None of the above ANSWER B
Date: September 10th, 2020
In the Keynesian model with a variable money wage and variable price level, an increase in the money supply lead to a rise in all of the following except a. price level. b. output. c. real wage. d. level of employment. e. all of these rise ANSWER C
Date: September 10th, 2020
On the gold standard, a trade deficit in the U.S. impacted the economy by producing (a) a gain of specie. (b) a tight supply of money. (c) low interest rates. (d) deflation. ANSWER (b)
Date: September 10th, 2020
If there is an increase in government spending that is financed by issuing bonds, then a. interest rates should rise which increases private investment. b. interest rates will remain the same unless taxes are reduced as well. c. interest rates should fall which increases private investment. d. interest rates should rise which decreases private investment. […]
Date: September 10th, 2020
Mechanic lien laws grant property rights to labor. They allow labor to make claims against the real property of businesses for work completed or materials supplied. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Expansionary fiscal policy includes an increase in government spending, a decrease in taxes or some combination of the two. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
According to Hughes and Cain (2011), all of the following have been primary motives throughout American history for government regulation except (a) the existence of monopoly power (b) quality control of products and services (c) funding of government activities through taxation (d) raising wages and improving working conditions ANSWER (a)
Date: September 10th, 2020
Olson (1971) claims that unions strive for job monopoly to achieve their goals by coercion. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
In the IS-LM model, when government spending and taxes increase by the same amount a. income and interest rates remain unchanged. b. interest rates and income rise. c. interest rates and income fall. d. changes in interest rates are indeterminate but income rises. e. none of the above. ANSWER B
Date: September 10th, 2020
In colonial America, work (a) was required, at least for the lower classes, even for whites not bound in servitude. (b) was required of all classes, wealthy or poor, slaves or free. (c) was the decision of the individual, like it is today, except for slaves and indentured servants. (d) was thought to be for […]
Date: September 10th, 2020
