The organized groups of people who favor government intervention do so at the expense of other groups because even government resources are limited. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Which of the following statements is supported by the research of economic historians? (a) Canals and railroads were built with a mixture of private and public enterprise and financing. (b) Canals and railroads were built largely without U.S. government participation. (c) Canals were built with public assistance, but railroads were built with almost no government […]
Date: September 10th, 2020
“Lender of last resort” means that the central bank a. has to lend money to failing banks. b. should lend money to individuals if their bankruptcy would threaten the banking system. c. should lend money to banks that are suffering short-term liquidity shortages. d. should lend money to pay for government deficits. e. None of […]
Date: September 10th, 2020
Interstate Commerce Commission (ICC) Act of 1887 gave the federal government rate-setting powers. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The U.S. experience with the rise and fall of its railroad industry illustrates that central planners are less likely than private investors to allocate investment funds into wealth-creating projects. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The Board of Governors of the Federal Reserve System is responsible for a. approving changes in the discount rate. b. controlling monetary policy. c. administering discount lending. d. Both a and b e. All of the above ANSWER A
Date: September 10th, 2020
Assuming the Federal Reserve makes an open-market purchase of a government security worth $10,000 . By writing a check to pay for this security, the Federal Reserve a. reduces the balance of its assets by $10,000. b. reduces the balance of its liabilities by $10,000. c. neither reduces the balance of its assets nor the […]
Date: September 10th, 2020
Private initiative and financing were most important in (a) the canal system of transportation. (b) the steamboat system. (c) the railroad system. (d) none of the transportation systems. ANSWER (b)
Date: September 10th, 2020
A fall in which of the following would increase the money multiplier? a. The monetary base b. A change in M1 c. The level of Federal Reserve open market purchases d. An increase in the currency to checkable deposit ratio e. All of the above 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
