Fiat money is: a. includes currency and gold in bank vaults. b. does not include coins. c. is backed by any sort of commodity. d. has no value outside of its use as money. ANSWER D
Date: September 10th, 2020
Historians are in general agreement that (a) railroads opened the country and were built at great risk ahead of demand, gambling on the future. (b) railroads sharply cut down transportation costs, linking the country together in all directions and spurring the nation’s growth far in advance of anything that might otherwise have been achieved. (c) […]
Date: September 10th, 2020
Which of the following are NOT true? a. Credit cards are the same as debit cards when determining the money supply. b. Credit cards are included in M2 but not M1. c. Credit cards do not impact the demand for money. d. Credit cards are a means of payment. e. All of the above are […]
Date: September 10th, 2020
Why did the money supply fall during the Great Depression? a. The monetary base fell throughout the Great Depression. b. The amount of currency fell during the Great Depression. c. The ratio of currency/deposits fell during the Great Depression. d. The money multipier rose during the Great Depression. e. None of the above. ANSWER […]
Date: September 10th, 2020
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
As a result of the case of Dartmouth College v Woodward (1819), the Federal Trade Commission was formed years later in 1914. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Railroads had advantages over canals in all respects except (a) year-around service. (b) speed of delivery. (c) full access to shipping points. (d) there is no “except”; all of the above were advantages of railroads. ANSWER (d)
Date: September 10th, 2020
Contrary to many researchers’ views, Hurst (1969) claims the government needed private investors to fund internal improvements. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Even though government-operated firms do not have to make a profit, they usually operate efficiently. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Up until the early 1880s, there was no federal control over private activities. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
