Which of the following was illustrated by the majority voting decisions witnessed during the Great Depression? (a) If the U.S. wants to get the most from its resources, the pricing of goods and allocation of investment should be decided by majority voting. (b) In a representative democracy, majority voting will assure that approved projects are […]
The nature of employer liability changed in the 19th century through judicial instrumentalism and had what effect? (a) Reducing the risks and the costs of business, making business enterprise more daring and profitable than it would have been otherwise. (b) Increasing the risks and the costs of business, making business enterprise more daring and profitable […]
A review of U.S. history provides evidence that (a) class mobility is restricted. (b) race and gender barriers simply cannot be dismantled. (c) the wealthy and idle rich class has deep and permanent roots in the U.S. (d) there are no social barriers that cannot be overcome in the U.S. ANSWER (d)
The exploitation of what resource supplied more than half of the increase in mechanical energy in 1860–1910? (a) Petroleum (b) Water power (c) Anthracite coal (d) Bituminous coal ANSWER (d)
Cities included all of the following economies of scale except (a) Transportation (b) Sanitation (c) Crime (d) Education ANSWER (c)
Which of the following acts was/were designed to take out the risk in the securities industry? (a) Truth in Securities Act of 1933 (b) Fair Labor Standards Act of 1938 (c) Social Security Act of 1935 (d) All of the above ANSWER (a)
Which of the following federal activities was new under the New Deal? The federal government (a) subsidized building construction. (b) provided federal finances to build houses. (c) established regulatory agencies intended to influence activities in private markets. (d) engaged in all of the above. ANSWER (b)
Overall, U. S. citizens and foreign-born residents embrace change that promises overall growth. This is evidenced by which of the following? (a) Innovation (b) The growth of new industries and the demise of others (c) Population migration from one part of the U.S. to another (d) All of the above ANSWER (d)
If the Federal Reserve raises the discount rate, the market rate of interest a. will rise but the monetary base will be unchanged. b. will rise and the monetary base will fall. c. and the monetary base will both rise. d. will fall and the monetary base will rise. ANSWER B
The change from prescriptive rights to priority rights meant all of the following except (a) Entrepreneurial costs of economic development, such as river and lake pollution, had to be paid by those who were responsible for the costs. (b) The courts encouraged entrepreneurial activity by judicial interpretation. (c) Amenity rights to scenery, clear air and […]
