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
If the Federal Reserve sells $10 million in government securities in the open market, with a 10 percent required reserve ratio on deposits, the maximum increase in deposits would be a. -$50 million. b. -$100 million. c. $10 million. d. $100 million. e. none of the above ANSWER B
Date: September 10th, 2020
The fee simple form of land ownership in the United States was of English origin. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
The “New Deal” measures introduced in 1933 and 1934 to end the depression (a) brought about almost complete recovery by the mid-1930s. (b) were not completely successful in ending the Depression, which lasted until the beginning of World War II. (c) actually interfered with recovery, and the Depression worsened in the mid-1930s. (d) were not […]
Date: September 10th, 2020
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
