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
During the antebellum period, rapid economic growth was accompanied by significant changes in public economics and policy-making. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Capitalists like Henry Ford welcomed the Fair Labor Standards Act of 1938 . It relieved them of the responsibilities associated with contracting wages, hours and working conditions. Indicate whether the statement is true or false ANSWER False Using the economic way of thinking and holding all else constant, choose the best answer among those […]
Date: September 10th, 2020
According to the theory of hysteresis, a prolonged recession will: a. decrease the natural rate of unemployment. b. increase cyclical unemployment. c. decrease the sacrifice ratio. d. increase the natural rate of unemployment. ANSWER D
Date: September 10th, 2020
Internal and external economies positively contributed to U.S. industrialization. Indicate whether the statement is true or false ANSWER TRUE
Date: September 10th, 2020
Assuming perfect perfect capital mobility, the BP schedule is a. vertical. b. horizontal. c. upward sloping. d. downward sloping. e. flat. ANSWER B
Date: September 10th, 2020
The founders of the U.S. Constitution clearly understood how to write a document capable of producing the amount of wealth presently accumulated in the U.S. Indicate whether the statement is true or false ANSWER FALSE
Date: September 10th, 2020
