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
A critical assumption for the simple money multiplier (1/ rrd) to hold is that a. banks do not hold excess reserves. b. the public does not increase their level of currency holdings. c. the required reserve ratio has to be greater than one. d. both a and b. e. all of the above. ANSWER […]
Date: September 10th, 2020
Which transportation industry did government invest most heavily in before 1860? (a) Turnpikes (b) Canals (c) River steamboats (d) Railroads ANSWER (d)
Date: September 10th, 2020
During the great canal-building era, from roughly 1815 to 1843, Hughes and Cain (2011) claim that (a) most canals earned normal profits. (b) no canals earned profits. (c) all canals in the initial period of construction earned normal profits but none did in the later period because of over-construction and competition from the railroads. (d) […]
Date: September 10th, 2020
Research in history and economic history shows that before 1880, significant federal participation in the markets of the American economy occurred. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
As the transportation system developed in the U.S., urbanization occurred. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
In the pivotal Supreme Court decision Munn v Illinois (1877), the court held that only natural monopolies were subject to federal government regulation. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Commercialization, market growth and factories emerged in rural areas. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
If the Federal Reserve simultaneously sells government bonds in the open market and raises reserve requirements, the a. money supply will increase. b. money supply will decrease. c. money supply will stay the same. d. two tools will work against one another and the net effect on the money supply is uncertain. ANSWER B
Date: September 10th, 2020
