The greater the social immobility is within a country, the greater the chance that human talent and skills will not go to waste. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Local, state and federal government control and influence over businesses through taxes, subsidies, licensing and inspections are a firm part of U.S. history. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
If commercial banks hold checkable deposits of $100,000, reserves of $30,000, and the required reserve ratio is 20 percent, what is the maximum additional amount by which the banking system can expand the money supply? a. $20,000 b. $30,000 c. $50,000 d. $60,000 e. -$50,000 ANSWER C
Date: September 10th, 2020
Output produced and sold always generates profits for businesses. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
As an economy grows and develops, the police powers of the government with respect to controlling, regulating and inspecting businesses and their output become increasingly more costly to uphold and protect. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Continued U.S. economic growth requires little institutional and technological change. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The American Revolution was waged against the colonial governments that had emerged and had been supported by the English. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
During the 1930s, labor legislation was (a) generally favorable to organized labor. (b) generally unfavorable to organized labor. (c) generally neutral with regard to organized labor. (d) virtually the same compared to previous periods. ANSWER (a)
Date: September 10th, 2020
Open-hearth technology quickly replaced the Bessemer converter in the steel industry. This is an example of Schumpeter’s creative destruction process. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Even today, individuals distrust the outcome of free markets, as is evidenced by the protests against the construction of Walmarts across the nation. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
