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
The power of the contract and the ability to enforce contracts in the U.S. are, in part, responsible for the overall success of the U.S. economy. 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
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
