The assembly line and interchangeable parts were first used by Henry Ford. Indicate whether the statement is true or false ANSWER False (They were first applied by Eli Whitney in the production of guns.)
Date: September 10th, 2020
The rights of state and local government to regulate, license and control businesses were taken away after the American Revolution. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
In 1938, another Agricultural Adjustment Act was passed. The error of the 1933 Act was now avoided. What had that error been? (a) Acreage allotments (b) Combining provisions for conservation with subsidies (c) Imposition of specific taxes on food processors (d) Excessive delegation of power ANSWER (c)
Date: September 10th, 2020
The power of the U.S. government to seize private property or exercise the right of eminent domain was an English innovation. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The following have strengthened individual control over private property: taxation, zoning, land-use restrictions and eminent domain law. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
By 1914 the American economy had transformed into an agricultural giant. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
Which of the following functions express the money multiplier (m) for the narrowly defined money stock (M1)? a. m = ΔMs/Δ(MB) = m(rrd) b. m = ΔMs/Δ(MB) = m(rrd, CU/D, ER/D) c. m = ΔMs/Δ(MB) = m(rrd + CU/D) d. m = ΔMs/Δ(MB) = m(rr/D, CU/D, RR/D) ANSWER B
Date: September 10th, 2020
The equal wealth and income distribution in the U.S. during its antebellum period can be clearly linked to its system of private property rights over land and minerals. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
The “New Deal” programs of the 1930s aimed at (a) transforming American capitalism into a planned socialist economy. (b) introducing short-term measures to cure the depression but no fundamental changes in the American economy. (c) introducing measures to deal with the crises and cure the depression combined with measures to restructure important aspects of the […]
Date: September 10th, 2020
Industrialization through heavy capital investments required savings by households, businesses and/or government bodies. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
