During the antebellum period, the U.S. used more economic output and resources than were domestically available during expansions and less during contractions. International trade assisted during these cyclical times. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The slope of the LM curve has been shown to depend most crucially on the interest elasticity of a. consumption. b. saving. c. money demand. d. investment. ANSWER C
Date: September 10th, 2020
An increase in the marginal propensity to hold money a. results in an fall in the interest rate and a decline in income. b. raises the interest rate and lowers income. c. results in a fall in the interest rate and a rise in income. d. raises both the interest rate and income. ANSWER […]
Date: September 10th, 2020
The equation of exchange is a(n) a. identity relating the volume of transactions at current prices to the stock of money times the turnover rate of each dollar. b. “truism” and by itself does not explain the variables it contains. c. identity relating the volume of transactions at base year prices to the stock of […]
Date: September 10th, 2020
Which of the following is (are) correct? In the classical system, the suppliers of bonds were the a. government which always sold bonds to finance a new project. b. firms which financed all investment expenditures by selling bonds. c. government which might sell bonds to finance spending in excess of tax revenues. d. Both b […]
Date: September 10th, 2020
State banks failed to find a way to print money under the Constitution. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The direction of colonial trade produced great trade deficits with England, especially in the New England Colonies. Consequently, growth and development were stifled in colonial America. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
On the eve of the American Revolution, the majority of colonists were naturally born in the colonies rather than immigrants from elsewhere. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The new Keynesian theories of efficiency wages imply a. nominal wage rigidity. b. real wage rigidity. c. changes in unemployment represent changes in the natural rate of unemployment. d. market clearing in the labor market in the long-run. e. None of the above ANSWER A
Date: September 10th, 2020
New Keynesian theories of efficiency wages imply a. voluntary unemployment. b. real wage rigidity. c. changes in unemployment represent changes in the natural rate of unemployment. d. market clearing in the labor market in the long-run. e. None of the above ANSWER B
Date: September 10th, 2020
