Railroad competition was the primary cause of canal failures. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Throughout U.S. history, entrepreneurial activity would occur when (a) centralized economic planning was involved (b) distributed rights to profits were clear and protected (c) government intervention was pervasive (d) all of the above ANSWER (b)
Date: September 10th, 2020
The three acts that form the basic machinery behind the U.S. anti-trust laws are the Sherman Act of 1890, the Federal Trade Commission Act of 1914, and the Robinson Patman Act of 1836. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Which of the following variables that affect the money stock are outside the direct control of the Federal Reserve? a. Currency/deposit ratio b. Excess reserve/deposit ratio c. Required reserve/deposit ratio d. The speed of the money creation process. e. Both a and b ANSWER E
Date: September 10th, 2020
Productivity, or output per labor hour, rises as transportation costs fall. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Between 1860 and 1914, the growth rate in industrial production (a) fell behind the growth in the overall U.S. population. (b) outpaced the growth rates in the labor force and population. (c) was less than the growth rate in agricultural production. (d) fell behind both the growth rate in agricultural production and that of the […]
Date: September 10th, 2020
During the industrialization of the U.S., wealth was (a) unequally divided among the population but accumulating. (b) a product of a federal plan for economic development and growth. (c) the sum of all revenue earned by U.S. households and businesses. (d) none of the above. ANSWER (a)
Date: September 10th, 2020
Between 1860 and 1910, the labor force in agriculture (a) dwindled to historic lows. (b) decreased at a slow steady pace. (c) increased but not at the same rate as the total labor force. (d) stayed the same. ANSWER (c)
Date: September 10th, 2020
Unlike the person or persons who formally form a sole proprietorship or partnership, a corporation has (a) a perpetual life. (b) unlimited liability for the debts accumulated by the firm. (c) the right to vote. (d) concentrated ownership. ANSWER (a)
Date: September 10th, 2020
Since reserve requirements on time and savings deposits were phased out in the early 1990s, a. only the M1 money multiplier is affected by increases in time and savings deposits. b. only the M2 money multiplier is affected by increases in time and savings deposits. c. neither the M1 nor the M2 money multipliers are […]
Date: September 10th, 2020
