If the Habakkuk thesis had been correct—unamended by Rosenberg, David and others—a long-run decline in the supply of agricultural productivity west of the Appalachians would be matched by a proportional (a) decline in the productivity growth in eastern manufacturing. (b) increase in productivity in eastern manufacturing. (c) rise in American food imports. (d) rise in […]
The form of property ownership rights inherited from the colonial period was characterized by which of the following? (a) Property ownership was almost ideal as the base for a free-market economy. (b) Property ownership established property, including land, as a “commodity” that could be easily bought and sold. (c) Property ownership proved to be an […]
The federal funds market is the market for a. loans from the federal government. b. loans from the Federal Reserve. c. government borrowing and lending. d. interbank lending. e. all of the above. ANSWER D
The growth and development of the U.S. economy during its period of rapid industrialization was largely influenced by centralized economic planning. Indicate whether the statement is true or false ANSWER FALSE
Which of the following threatens the future of the U.S. economy? (a) A strengthening of private property rights (b) Effectively preventing some individuals and organizations from pursuing noncompetitive market legislation (c) Racism, discrimination and sexism (d) Increased private consumption and investment and reduced government expenditures ANSWER (c)
The Bank Act of 1935 restructured the Federal Reserve System (FRS) in which of the following ways? (a) The FRS Board of Governors gained discretionary control over bank reserves and margin requirements for loans against securities. (b) The Governor’s Committee was renamed the Federal Open Market which was comprised of 12 members, 7 of whom […]
Most researchers agree that the New Deal positively impacted (a) employment and overall production. (b) wages, working conditions and working hours. (c) electricity production and use of it as power. (d) all of the above. ANSWER (c)
Which of the following factors have contributed and continue to contribute to long-term economic growth in the U.S.? (a) Individual rights to vote and popular democracy (b) Public and private education (c) Increased labor productivity, capital accumulation and technological change (d) All of the above ANSWER (d)
If the Federal Reserve increases the legal reserve requirement on deposits, a. the money stock will rise and the money multiplier will fall. b. the monetary base will rise and the money multiplier will fall. c. both the monetary base and the money stock will fall. d. neither the monetary base nor the money stock […]
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)
