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 […]
The percentage of people living in urban areas decreased surprisingly between 1860 and 1910. Indicate whether the statement is true or false ANSWER FALSE
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)
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 […]
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. […]
Social Security, like other governmental programs, alters individuals’ decisions to save, consume and invest privately for the present as well as the future. Indicate whether the statement is true or false ANSWER TRUE
Industrial entrepreneurs like J.P. Morgan, Henry Ford and Andrew Carnegie were driven by desires to earn profits. In the process of pursuing these profits, American consumers were made better off. Indicate whether the statement is true or false ANSWER TRUE
During the colonial period, regulation of business activities was the right of government and its duty—extensive regulation was done, such as licensing, inspection, price fixing, etc. Which statement best describes regulation in the decades after 1789? (a) Regulation continued at about the same level as during the colonial period. (b) As commerce and manufacturing became […]
The decisions of today have consequences that lie in the future. Indicate whether the statement is true or false ANSWER TRUE
The Federal reserve prefers to use open market operations because a. it allows for small changes. b. its effects are well understood. c. it is easy to conduct. d. both a and b. e. all of the above. ANSWER E
