Throughout U.S. history labor and physical capital have been (a) input substitutes and complements. (b) output substitutes and complements. (c) product displacements. (d) mixed outputs. ANSWER (a)
Date: September 10th, 2020
Which of the following would be an asset on a consolidated balance sheet for a commercial bank? a. Checkable deposits b. Time and savings deposits c. Reserves held on deposit at the Federal Reserve d. Borrowing from the Federal Reserve ANSWER C
Date: September 10th, 2020
To secure a charter, the deciding bodies required which of the following from the business enterprises? (a) A statement of business purpose and location (b) A business plan (c) A description of capital and labor requirements and expectations (d) All of the above ANSWER (d)
Date: September 10th, 2020
The portion of the money supply controlled by a central bank is a. currency. b. deposits. c. reserves. d. the monetary base. e. the money multiplier. ANSWER D
Date: September 10th, 2020
Mass production during U.S. industrialization involved using which of the following? (a) Interchangeable parts (b) Division of labor and specialization (c) The assembly line (d) All of the above ANSWER (d)
Date: September 10th, 2020
During the antebellum period, the federal government assumed (a) responsibility for full employment. (b) responsibility for stable prices. (c) responsibility for the overall economy through control of the money supply. (d) little responsibility for most economic matters, leaving them to private individuals in businesses and households. ANSWER (d)
Date: September 10th, 2020
Which of the following statements holds true for eminent domain? (a) The costs are diverse and the benefits concentrated to those special groups who secured it. (b) It supports rent-seeking where some individuals gain and others lose. (c) The owner of the property secured through eminent domain has no legal recourse. (d) It is well-defined […]
Date: September 10th, 2020
By 1910 the top ten industries included printing, malt liquors, tobacco cars and railroad cars. The introduction of these new top ten industries indicated (a) a shift in consumer preferences toward luxury items. (b) an increase in real incomes in the U.S., permitting people to purchase luxury items. (c) a smaller percentage of total consumption […]
Date: September 10th, 2020
If the money supply is $1 billion, the reserve requirement is 10%, and currency holding $50 million, then reserves are a. $50 million. b. $100 million. c. $20 million. d. $40 million. e. none of the above ANSWER A
Date: September 10th, 2020
The early U.S. canals and railroads were built by private enterprise without the aid of governments. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
