The U.S. system of property rights (a) is strictly private. (b) is influenced by a mix of private and public forces. (c) does not permit governmental seizure of property under any circumstances. (d) does not permit the government to seize earned income through taxation. ANSWER (b)
Date: September 10th, 2020
President Franklin D. Roosevelt’s first action regarding the run on banks was to (a) close all banks. (b) increase the money supply. (c) prohibit bank foreclosures. (d) provide federal guarantees to depositors. ANSWER (a)
Date: September 10th, 2020
The basic nature of the real property tenure that was transferred here from England included all of the following characteristics of ownership except (a) Ownership by purchase was perpetual as long as taxes due were met. (b) Land could descend to heirs either by will or inheritance. (c) Ownership included surface resources but not subsurface […]
Date: September 10th, 2020
Sustained economic growth in the U.S. has been primarily a product of which of the following factors? (a) War and exploitation of natural resources (b) Capital accumulation, increases in capital and labor productivity, and technological advancements (c) Restricted trade (d) Government policies and market interventions ANSWER (b)
Date: September 10th, 2020
Assuming the required reserve ratio is 20 percent and total reserves are set at $20 billion, then the maximum amount of deposits would be a. $100 billion. b. $40 billion. b. $4 billion. d. $60 billion. e. $120 billion. ANSWER A
Date: September 10th, 2020
The appearance of “classical American capitalism” in the middle and late 19th century includes all of the following except (a) An industrial labor force concentrated in manufacturing centers (b) The commercialization of agriculture and extractive industries (c) The rise of big-time finance and giant transportation systems (d) The strengthening of small scale family farm enterprises […]
Date: September 10th, 2020
The percentage of people living in urban areas decreased surprisingly between 1860 and 1910. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Those closest to fomenting a real revolution during the early years of the Great Depression were (a) bankers. (b) farmers. (c) industrial workers. (d) the middle class. ANSWER (b)
Date: September 10th, 2020
The U.S. government is an asset to the U.S. economy when it (a) effectively serves its role as the agent that defines and protects private property rights. (b) taxes one group of individuals and redistributes that taxed income to another group. (c) permits special groups to secure legislative protection from foreign competition in the industries […]
Date: September 10th, 2020
If the Federal Reserve were to simultaneously sell government bonds in the open market and decrease the discount rate, the a. money supply will increase. b. money supply will decline. c. money stock will stay the same. d. two tools will work in opposite directions and the effect on the money supply is uncertain. […]
Date: September 10th, 2020
